Diplomatic friction continues between Washington and Tehran as President Donald Trump claims active negotiations are underway to reopen the Strait of Hormuz. Trump stated he expects the waterway to be fully open by Wednesday, marking what he described as the first phase of a broader plan that eventually includes discussions on Iran’s nuclear program. These comments follow a period of military de-escalation where planned U.S. strikes were cancelled to provide space for a potential agreement.
Tehran maintains a different position. Esmaeil Baghaei, spokesperson for the Iranian Foreign Affairs Ministry, denied the existence of direct negotiations with the United States. Iran confirmed it is engaged in discussions with Oman regarding a temporary safe route through the strait but rejected the idea of hosting foreign delegations or dispatching negotiators abroad. Qatari officials, meanwhile, indicated they are coordinating with Oman to exchange proposals between the two sides.
While diplomatic signals remain inconsistent, the situation on the ground remains volatile. A cargo vessel was struck by an unknown projectile off the coast of Oman on Monday night. The attack, confirmed by the United Kingdom Maritime Trade Operations Centre, forced the crew to abandon ship, with one seafarer reported missing. Shipping traffic through the strait continues at a minimal pace, with only a small fraction of normal daily volume currently passing through the region.
Market responses reflect the ongoing uncertainty. Brent crude oil prices rose by 2.7% on Tuesday, as traders react to the instability rather than clear signs of a breakthrough. Treasury Secretary Scott Bessent noted there remains a possibility of a deal to secure freedom of movement, yet the disparity between the public statements from U.S. leadership and Iranian officials highlights the difficulty of establishing a reliable path toward stabilization in the current climate.