Preliminary US-Iran Agreement Reported on Strait of Hormuz Reopening

The New York Times cited a U.S. official stating that the United States and Iran have reached a preliminary agreement aimed at reopening the Strait of Hormuz. However, no official confirmation has been issued by either party.

The official noted that the announcement left many questions unanswered, including when normal navigation through the strait would resume and when oil prices might begin to decline.

Carl Weinberg, chief economist at the daily economic newsletter High Frequency Economics, told the newspaper, "The short answer is nobody knows," regarding the timing of these developments.

Earlier, U.S. Secretary of State Marco Rubio told reporters in India that he expects "in the coming hours the world will hear good news about the Strait of Hormuz," emphasizing that the strait "will remain open without fees after the agreement."

On Sunday, U.S. President Donald Trump posted on his platform Truth Social that the blockade of Iranian ports and ships in the strait would remain fully enforced until a formal agreement is reached, approved, and signed.

On Saturday, Trump said that Washington and Tehran had completed "a great deal of negotiation" on a memorandum of understanding concerning a peace agreement that would reopen the Strait of Hormuz. Before the outbreak of war, one-fifth of the world’s oil and liquefied natural gas shipments passed through this strait.

American officials have criticized Iran for delays in finalizing the agreement, while Trump has urged caution and "patience" in the process.