This is an entry from: Live: Iran and Oman discuss plans to split control of Hormuz, as ship hit in Strait

US treasury secretary says Hormuz deal with Iran could happen 'today or tomorrow'

Treasury Secretary Scott Bessent said that the US could reach a deal with Iran to reopen the Strait of Hormuz by Wednesday, adding that this would stabilise energy prices.

"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 in an interview with CNBC.

Bessent was optimistic on the impact a deal with Iran over the strait would have on energy prices, where he said hundreds of ships are waiting to pass.

"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."