&imwidth=800&imheight=600&format=webp&quality=medium "Progress made in talks for reopening Hormuz, says Rubio; oil prices plunge")
US secretary of state Marco Rubio on Tuesday said that Iran and Oman have made progress on getting more ships through the strait of Hormuz but no final agreement has been reached.
“There’s been progress made in those talks, but not finality yet. We’re hoping that will happen very shortly,” Rubio told reporters at the State Department.
He claimed that some commercial vessels have managed to transit the Strait, though there were efforts to block their passage.
"There's a conversation and a negotiation that we are involved in between Oman and Iran on how more ships can be able to go through there safely in the short term," said Rubio.
Earlier Tuesday, Treasury Secretary Scott Bessent said there is a possibility that US could announce a deal with Iran to reopen the Strait of Hormuz “today or tomorrow".
Speaking to CBS Bessent said, "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."
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And when asked whether Iran would be allowed to charge a toll, Bessent said “It would be freedom of movement".
Oil prices plunge
As soon as Bessent and Rubio made the announcement oil prices tumbled. The main US oil contract, West Texas Intermediate, dropped five percent to $76.32 a barrel, while the cost of a barrel of brent crude, the global benchmark for oil prices, slid back below $80 a barrel.
This was the biggest drop for both contracts since 13 July.
