Trump says deal to reopen Strait of Hormuz could come as early as Wednesday
Politics
Finance
August 5, 2026
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U.S. President Donald Trump said a deal on the Strait of Hormuz could come as early as Wednesday, as Iran and Oman inched toward an agreement to reopen the critical waterway and potentially help bring an end to the war.
Israel and the U.S. originally cited goals including toppling Tehran’s government and ending its nuclear program, but the war has devolved into a fight over the strait as Iran’s attacks and threats ground shipping to a halt.
Closure of the strait, through which a fifth of the world’s oil and natural gas once passed, has driven up the price of fuel and basic goods far beyond the region, roiling the global economy. Trump is also under mounting pressure to end an unpopular war ahead of midterm congressional elections scheduled for later this year.
Politics
Finance
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