President Donald Trump stated that a deal on the Strait of Hormuz could be reached as early as Wednesday, as Iran and Oman move toward an agreement to reopen the critical waterway. This development could potentially help bring an end to the war.
Background
The war between the U.S. and Iran initially aimed to topple Tehran’s government and end its nuclear program. However, it has devolved into a fight over the Strait of Hormuz, with Iran’s attacks and threats bringing shipping to a halt.
The closure of the strait has driven up fuel and basic goods prices globally, affecting the economy. President Trump is under pressure to end the unpopular war ahead of the midterm congressional elections.
Recent Developments
Oil prices eased on Wednesday due to hopes of a deal that would allow shipping to resume. Despite this, attacks on shipping in the region continued, with the Iranian-backed Houthi rebels claiming to have fired ballistic missiles toward a Saudi oil tanker.
U.S. Secretary of State Marco Rubio confirmed progress in talks between Iran and Oman, but noted that a final agreement has not been reached. The possible deal would involve ships entering the Persian Gulf through an Iranian-controlled route and exiting through a route controlled by Oman, with service fees charged for security and environmental preservation.
Original reporting: Dallas TX News (HLL/CB) — read the source article.
