A deal to reopen the Strait of Hormuz could be reached as soon as Wednesday, August 5, 2026, according to US President Donald Trump and senior officials. The Strait of Hormuz is a critical waterway for global oil and gas supplies and has been a focal point of renewed fighting since an April ceasefire.

Trump told reporters in California on Tuesday that negotiators "had a very good day" and the strait would be open "very soon," warning Iran it would "get hit very hard" if negotiations failed. In an interview with Fox News, he said, "The strait is going to be open very soon, or they're going to get hit very hard - and then the strait's going to be open."

US Treasury Secretary Scott Bessent told CNBC there is a chance a deal may be reached by Wednesday or Thursday. Secretary of State Marco Rubio confirmed US involvement in negotiations between Oman and Iran to increase traffic through the strait.

Axios, citing unnamed regional and US officials, reported that the proposed agreement would be a 60-day arrangement for safe passage between Iran and Oman.

The conflict between Tehran and Washington has persisted since February 28, 2026, when the US and Israel launched surprise attacks on Iran. Despite a ceasefire and preliminary agreements, diplomacy has yet to end the hostilities.

Iran has tightened control over the Strait of Hormuz and seeks to charge tolls, a power it did not exercise before the war began. This move has been strongly opposed by the US.

The volatile situation is underscored by recent incidents, including a merchant ship hit by a projectile in Hormuz with one crew member missing, and an Indian ship sinking in the Red Sea after an unattributed attack. The Red Sea serves as a gateway to the Suez Canal, and previous attacks during the Gaza war forced shipping detours around Africa's southern tip.

Washington's diplomatic goals include reopening the Strait of Hormuz and the denuclearisation of Iran, which Trump acknowledged could be part of the negotiations.

Sources