Trump told Fox News the Strait of Hormuz "is going to be open very soon" after all-day negotiations on Tuesday, and Axios reported the U.S. and Iran are closing in on an interim agreement with Oman to reopen the waterway — with Washington aiming for an announcement on Wednesday. Iranian state media countered that any deal will be delayed "as long as the United States continues to threaten Iran." Qatar's Emiri office separately said Trump and Emir Sheikh Tamim bin Hamad Al Thani discussed narrowing differences, and Iran's foreign ministry spokesperson described talks with Oman over transit as "positive and continuing." Oil prices fell and stocks rose in Asian trade on Wednesday following the reports.
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The talks follow a multi-week pattern of alternating escalation and de-escalation: attacks paused for three nights on July 27, oil spiked after an Iranian surprise attack on July 29, and Trump warned of retaliation that same day.