U.S. President Donald Trump has stated that Iran will "suffer very badly" if the Strait of Hormuz is not opened to shipping in the near future. Amid reports of possible progress in negotiations, oil prices have fallen to their lowest level in three weeks. This is reported by the BBC, writes UNN.
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During a Fox News interview, Trump expressed confidence that the Strait of Hormuz will "very soon" become open again to international shipping.
We are having very good negotiations
At the same time, the U.S. president warned that in the absence of progress, Tehran "will suffer a very strong blow."
Oil prices fell amid expectations of a deal
Following statements by U.S. officials about possible progress in negotiations, the price of Brent crude dropped by nearly 5% – below $80 per barrel. American West Texas Intermediate crude also fell by more than 5%, to $76 per barrel.
Trump suggested that the Strait of Hormuz could be fully opened by Tuesday03.08.26, 22:10
U.S. Secretary of State Marco Rubio reported that negotiations mediated by Oman are moving forward, although a final agreement has not yet been reached.
Progress has been made in these negotiations, but there is no final result yet. We hope this will happen very soon
U.S. Treasury Secretary Scott Bessent suggested that an agreement to restore shipping through the Strait of Hormuz could be reached in the coming days.
At the same time, Iran denies conducting direct negotiations with the United States, emphasizing that contacts are carried out only through Oman's mediation. Qatar also confirmed the continuation of diplomatic efforts, but noted that no direct talks between Washington and Tehran are currently planned.