Iran-Oman Hormuz talks near deal as Trump eyes end to war

President Trump told reporters that significant progress has been made toward reopening the Strait of Hormuz and that an announcement could come as soon as today or tomorrow. The comments came amid ongoing talks between Iran and Oman focused on managing shipping traffic through the vital waterway that carries about one fifth of the world's oil.

Iranian Foreign Minister Esmaeil Baqaei described the discussions with Oman as positive and said final results would be announced once negotiations conclude. The two sides have reportedly agreed on coordinates for shipping routes, though disagreements remain over control of the strait. Iran has made clear it will not return to the prewar arrangement of an open international passage and is pushing for mechanisms that give it a role in oversight.

Trump expressed confidence that the broader conflict with Iran is nearing its end. He said the war cannot continue much longer and predicted that gasoline prices would fall once fighting stops. The president has been directly involved in the negotiations, according to his statements, though Iranian officials have denied any direct talks with Washington and insist they are dealing only with Oman.

The conflict has already taken a heavy toll on American military stockpiles. Two sources with knowledge of the situation said the United States has used nearly all of its global supply of long-range precision missiles during the campaign against Iran. Defense Secretary Pete Hegseth has downplayed concerns about shortages in the past, but the depletion raises questions about readiness for other potential challenges.

A possible compromise over control of the strait would require the administration to accept some Iranian influence in the waterway, something critics argue would hand Tehran leverage over global energy flows. Iran has floated ideas such as charging fees or restricting passage for vessels from the United States and Israel, measures that would mark a clear shift from the open access that existed before the fighting began.

For American drivers facing higher fuel costs, any agreement that ends the disruption in the strait would bring immediate relief. The closure has contributed to a worldwide energy crunch, and Trump has tied resolution of the crisis to lower prices at the pump. Yet the path to that outcome appears to involve concessions that could leave Iran with greater ability to threaten commercial shipping in the future.

Trump canceled a planned large-scale strike on Iran last week after indications that a diplomatic opening was near. He has pushed back against media reports suggesting the United States is running short on weapons, but the underlying pressure from sustained operations remains. With midterm elections approaching, prolonged high energy prices pose political risks for Republicans.

The talks between Iran and Oman continue, with both sides expressing optimism that remaining differences can be resolved. Whether the resulting arrangement protects American interests or simply shifts the balance of power in the Persian Gulf will depend on the details that emerge in the coming days.