Bessent says Hormuz deal may be near after Trump’s warning to Iran

Treasury Secretary Scott Bessent said the U.S. may reach a deal with Iran as soon as Tuesday or Wednesday to reopen the Strait of Hormuz, signaling possible progress in talks amid the fivemonth conflict. His comments came after President Donald Trump called the latest negotiations Iran’s “last chance” to end the war. Bessent said the agreement would restore freedom of movement through the strait, a vital global shipping route. The remarks helped push oil prices lower after they had risen earlier in the session on concerns that diplomacy was faltering. Trump said talks were underway and were taking place at the request of Iran and regional mediators, while Tehran denied holding direct negotiations with Washington. Qatar said it was helping facilitate exchanges between the two sides with support from other mediators, including Pakistan and Oman.