US treasury secretary says Hormuz deal with Iran could happen 'today or tomorrow'

Treasury Secretary Scott Bessent said that the US could reach a deal with Iran to reopen the Strait of Hormuz by Wednesday, adding that this would stabilise energy prices. "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 in an interview with CNBC. Bessent was optimistic on the impact a deal with Iran over the strait would have on energy prices, where he said hundreds of ships are waiting to pass. "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."