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

President Donald Trump told reporters Thursday that a deal to reopen the Strait of Hormuz could be reached as soon as today or tomorrow, pointing to ongoing talks between Iran and Oman as a potential path out of the widening conflict. The waterway, through which roughly one-fifth of global oil normally passes, has remained closed since the early stages of the US-Iran war, contributing to a worldwide energy crunch and higher fuel costs at the pump.

Iranian Foreign Minister Esmaeil Baqaei described the discussions with Oman as constructive, telling state broadcaster IRIB that Tehran is working to establish mechanisms for managing shipping traffic in cooperation with Muscat. An Iranian source familiar with the negotiations told CBS News that the focus has been on practical arrangements rather than broader political concessions. Both sides have agreed on coordinates for shipping routes, though disagreements persist over who will ultimately control access and whether Iran will be permitted to levy fees or restrict vessels from the United States and its allies.

Trump has repeatedly signaled optimism about an imminent breakthrough, telling reporters in the Oval Office that the war cannot continue much longer and that he is directly involved in efforts to end it. He has also promised that gasoline prices will fall once fighting stops. Iran, however, has denied holding direct talks with Washington, insisting that its only channel remains through Oman.

The urgency in Washington appears tied in part to mounting military strain. Two sources with direct knowledge of US operations said the Pentagon has nearly exhausted its global stockpile of long-range precision missiles during the campaign against Iran. Defense Secretary Pete Hegseth has previously downplayed concerns about shortages, but the reported depletion raises questions about the sustainability of sustained strikes.

Analysts note that Iran retains the ability to threaten commercial shipping with drones and missiles despite thousands of American attacks, giving Tehran leverage in any final arrangement. Former State Department official David Schenker suggested that economic pressure at home, including elevated energy prices that could hurt Republicans in the midterms, may push Trump toward accepting some Iranian role in managing the strait. Eliot Cohen, a former Bush administration official, warned that such a compromise would be difficult for a president who frames international affairs in terms of clear winners and losers.

The White House has ruled out any deal that would leave Iran with permanent control over the waterway or allow it to charge transit fees. Yet Iranian lawmakers have advanced a preliminary bill that would bar US, Israeli, and other hostile vessels from the strait, signaling that Tehran is unlikely to accept a return to the pre-war status quo. With direct US-Iran negotiations still off the table and Oman serving as the sole intermediary, the coming hours will test whether Washington can secure an agreement without further eroding its military reserves or conceding ground on a vital chokepoint for global energy supplies.