US Treasury Secretary Scott Bessent told broadcaster CNBC "there is a chance we may have a deal today or tomorrow", a day after President Donald Trump said the strait might reopen on Tuesday (Aug 4).

Iran and Oman are edging towards a plan to reopen the Strait of Hormuz through split shipping lanes. The proposed deal could ease a major energy chokepoint, but it hinges on US action and wider regional tensions.

The strait was an open international waterway before the U.S. and Israel attacked Iran on Feb. 28.

US Treasury Secretary Bessent suggests a deal with Iran to reopen the Strait of Hormuz could stabilise energy prices globally. Read more at straitstimes.com. Read more at straitstimes.com.

Iran's semiofficial Fars news agency aired footage Sunday of what it said were vessels "waiting for permission" from Iran to transit through the Strait of Hormuz.