What are the key terms of the reported 60-day agreement on the Strait of Hormuz involving the US, Iran, and Oman?

According to the news, the proposed 60-day agreement would allow inbound vessels to use a northern lane near Iran, while outbound traffic would travel through Omani waters in coordination with Iran; no tolls or fees would be charged during the agreement, and Iran and Oman would jointly work to clear mines from a middle shipping lane to enable future two-way traffic.

What did Trump say about the timing and prospects of a Hormuz deal, and what leverage did he signal?

Trump told reporters in Los Angeles that a deal 'could happen' as early as Wednesday or Thursday, saying talks with Iran are 'moving along very nicely' and that 'we’ll know in 48 hours'; he also repeated a threat that 'if they don’t make a deal, it’s going to be too bad,' and noted he had held off on attacks he described as 'the largest since World War II.'

Trump Fuels Hopes of Hormuz Opening With Hints Deal Is Close

Aug 5, 2026

US President Trump signaled an imminent deal to reopen the Strait of Hormuz, easing pressure on global oil markets amid tensions with Iran. The proposed agreement involves coordinated shipping lanes between Iran and Oman without tolls, potentially stabilizing Brent crude prices near $81 per barrel.

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