WASHINGTON: US Treasury Secretary Scott Bessent has expressed optimism that the United States and Iran could reach an agreement within the next 24 to 48 hours to ensure the reopening of the Strait of Hormuz, a move he said would help stabilise global energy markets.
Speaking in an interview with CNBC on Tuesday, Bessent said negotiations with Tehran were progressing and that an agreement could be finalised “today or tomorrow.”
“We are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalised position in this conflict,” he said.
Addressing speculation over whether Iran would be permitted to impose transit fees on vessels passing through the strategic waterway, Bessent dismissed the idea, saying the arrangement would instead guarantee freedom of navigation.
“I think it would be freedom of movement,” he stated.
The Treasury secretary also noted that despite heightened tensions in recent days, commercial shipping had continued to move through the region.
“Even though things are still a little dicey there over the past few days, we’ve seen quite a few ships coming out even now,” he said.
Bessent added that a successful agreement would likely ease concerns in global oil markets and contribute to lower energy prices.
“I’d expect the energy prices to settle back down, which, as I said, will be good for the entire world,” he added.
The Strait of Hormuz is one of the world’s most strategically important maritime chokepoints, carrying a significant share of global oil and liquefied natural gas exports. Any agreement ensuring uninterrupted navigation through the waterway would be closely watched by energy markets and governments worldwide.
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