Iran-US Hormuz Deal Hopes Rise Despite Fresh Maritime Attacks

Dubai – (Special Correspondent/Web Desk) – A senior US official said this week that a deal with Iran to reopen the Strait of Hormuz could happen within a day or two, even as fresh maritime attacks continue to rattle nerves across the region. The news sent oil prices sliding fast, giving markets a rare dose of hope.

US Treasury Secretary Scott Bessent told CNBC that talks with Iran are moving forward and a deal “today or tomorrow” is possible. His words echoed comments made earlier by President Donald Trump, who has kept switching between hopeful talk and hard warnings.

Speaking from the White House, Trump gave Iran what he called a “last chance before decapitation.” It’s the kind of tough language he’s used before, right before hinting that a deal might actually be close.

The two sides have technically been at war since late February, when US and Israeli forces struck Iran without warning. A ceasefire came later, along with an early-stage agreement. But real peace has stayed just out of reach.

Even while diplomats talk, ships keep getting hit. One crew member went missing Tuesday after a merchant vessel in the Strait of Hormuz was struck by a projectile. Separately, an Indian ship sank in the Red Sea following an unclaimed attack, though the whole crew survived.

The Strait of Hormuz matters because it’s one of the busiest oil and gas routes on Earth. Iran wants more control over it, including the right to charge tolls on ships passing through. The US strongly opposes that idea.

This isn’t the first time hopes have spiked. Just last week, Trump threatened a harsh military response, only to pull back again and suggest a deal was near. It’s become a familiar back-and-forth.

Iran’s foreign ministry, however, denies that direct talks are even happening, despite Trump insisting otherwise. Secretary of State Marco Rubio added that the US is involved in separate talks between Oman and Iran focused on increasing ship traffic through Hormuz.

The uncertainty hit oil markets hard. Brent crude dropped more than six percent, falling below $79 a barrel, as traders bet on smoother shipping ahead.

Qatar, which has been quietly mediating, said talks are ongoing but no direct US-Iran meeting is currently planned. Qatar’s leader spoke with Trump by phone, focusing on ways to calm tensions in the region.

Trump’s goals go beyond just reopening Hormuz. He also wants Iran to give up its nuclear ambitions, something he admits could “take a little while” to sort out.

Meanwhile, Iran still controls much of the flow through Hormuz, requiring ships to coordinate crossings with its forces. Attacks continue on commercial vessels almost daily.

The pressure has pushed more shipping traffic through the Red Sea instead. But that route isn’t safe either, since Houthi rebels backed by Iran have declared their own blockade against Saudi Arabia.

Despite the risks, ports like Yanbu in Saudi Arabia have helped keep oil moving by avoiding Hormuz completely. Still, the wider region remains tense, unpredictable, and far from settled.