US treasury secretary says deal with Iran to reopen Hormuz could be sealed by Wednesday

US Treasury Secretary Scott Bessent said Washington could reach a deal with Tehran to reopen the Strait of Hormuz by Wednesday, amid reports that an emerging Iranian-Omani deal on the waterway would hand the Islamic Republic unprecedented control over it.

Speaking to CNBC on Tuesday, Bessent was upbeat that energy prices could stabilize as a result of a US deal with Iran on the blockaded strait, where he said hundreds of ships are waiting to leave.

"We are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict," Bessent said.

"Even though things are still a little dicey there over the past few days, we've (seen) quite a few ships coming out even now," Bessent said. "So you know, I'd expect the energy prices to settle back down, which, as I said, will be good for the entire world."

Asked if a deal would allow Iran to charge a toll on shipping using the strait, Bessent said: "I think it would be freedom of movement."

However, Iranian officials cited by the New York Times on Tuesday said that under a deal that Iran and Oman are close to signing, ships crossing the strait into the Persian Gulf would be required to pay "service fees," with Iran and Oman sharing the revenue equally.

The pact would have ships heading toward the Persian Gulf cross the strait in a route that's close to Iran's coast and controlled by the Islamic Republic, according to officials familiar with the emerging deal, the Times said.

Vessels going in the opposite direction, leaving the Persian Gulf, would use a route through the strait near Oman's coast.

The report was unclear on who exactly is negotiating the deal and whether the United States is involved. It cited a US official as casting the Iranian description of the deal as "not accurate," asserting that any routes the US agreed to would not require Iranian approval or include tolls.

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On Tuesday, a cargo vessel was struck by an "unknown projectile" in the strait off the coast of Oman, a British maritime agency said, without giving specifics on damage or injuries.

The vessel, which has not been named, reported being "hit by an unknown projectile" and authorities were investigating, the United Kingdom Maritime Trade Operations said, adding that the incident occurred 20 nautical miles (37 kilometers) northeast of Al Khasab, Oman.

The ship suffered damage, according to British maritime security firm Ambrey, which did not elaborate.

### Efforts to reach US-Iran agreement 'ongoing'

Efforts to bring about a diplomatic solution between the US and Iran are "ongoing," Qatar's Foreign Ministry spokesman Majed Al-Ansari said on Tuesday.

"We can confirm that efforts are ongoing with all parties; we are looking into a diplomatic solution," Ansari said.

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Whether "Iran wants to admit it or not, we are, in fact, talking," Trump maintained.

Iranian Foreign Ministry spokesperson Esmail Baghaei said Monday that no negotiations were being held with the US, adding that Tehran's talks were only with Oman and focused on the Hormuz mechanism.

Trump voiced frustration with Iran, suggesting Tehran had asked for the talks.

"Iranian Leadership is unbelievably duplicitous!" the US president vented on Truth Social, his social media platform.

"They ask for a meeting, some would say 'beg,' talks begin, with more scheduled in the immediate future, and they say, openly and proudly, that they're not having any discussions, that nothing is being talked about, and they're only dealing with 'Oman,'" he wrote.