US Treasury Secretary Scott Bessent said Washington could reach a deal with Tehran to reopen the Strait of Hormuz by Wednesday, amid reports that an emerging Iranian-Omani deal on the waterway would hand the Islamic Republic unprecedented control over it.

Speaking to CNBC on Tuesday, Bessent was upbeat that energy prices could stabilize as a result of a US deal with Iran on the blockaded strait, where he said hundreds of ships are waiting to leave.

“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 normalized position in this conflict,” Bessent said.

“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,” Bessent said. “So you know, I’d expect the energy prices to settle back down, which, as I said, will be good for the entire world.”

Asked if a deal would allow Iran to charge a toll on shipping using the strait, Bessent said: “I think it would be freedom of movement.”

US Treasury Secretary Scott Bessent says deal with Iran on Strait of Hormuz may happen 'today or tomorrow'. pic.twitter.com/ZtnnROfJIe — Aditya Raj Kaul (@AdityaRajKaul) August 4, 2026

US Treasury Secretary Scott Bessent says deal with Iran on Strait of Hormuz may happen 'today or tomorrow'. pic.twitter.com/ZtnnROfJIe

— Aditya Raj Kaul (@AdityaRajKaul) August 4, 2026

However, Iranian officials cited by the New York Times on Tuesday said that under a deal that Iran and Oman are close to signing, ships crossing the strait into the Persian Gulf would be required to pay “service fees,” with Iran and Oman sharing the revenue equally.

The pact would have ships heading toward the Persian Gulf cross the strait in a route that’s close to Iran’s coast and controlled by the Islamic Republic, according to officials familiar with the emerging deal, the Times said.

Vessels going in the opposite direction, leaving the Persian Gulf, would use a route through the strait near Oman’s coast.

The report was unclear on who exactly is negotiating the deal and whether the United States is involved. It cited a US official as casting the Iranian description of the deal as “not accurate,” asserting that any routes the US agreed to would not require Iranian approval or include tolls.

A senior Iranian source told Reuters that Iran wants control over inbound shipping through the strait and visibility over outbound traffic, with the ability to intervene if necessary.

The source, who is involved in the talks, said this is “the general idea currently being discussed,” and specified that the outbound lane would follow a route between Iran and Oman, with exit clearance granted through Oman after notifying Iran.

“Tehran is unlikely to change its position,” the source added.

Until the recent war, the Strait of Hormuz operated for decades as a free international waterway, but it has become a major sticking point in efforts to end the war. Since a ceasefire broke down, Iran has resumed a blockade of the critical trade corridor it first imposed early in the war,........

© The Times of Israel