Trump hints at a breakthrough deal to reopen the Strait of Hormuz as soon as this week, sparking oil price dips and raising hopes for restored shipping lanes. A potential agreement between Iran and Oman would let tankers use separate Iranian and Omani routes, with fees for security and environmental costs. Talks are still underway, amid pressure from rising gas prices and looming midterms. Trump’s mixed messaging—threatening escalation while backing diplomacy—adds complexity. Iran insists talks are only with Oman, though U.S. officials confirm progress. Recent attacks on ships in the region underscore the urgency—and volatility—of this critical global chokepoint.
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