Bessent Signals Imminent Hormuz Deal With "Freedom of Movement" Transit Guarantees

Treasury Secretary Bessent told CNBC on August 4 that the US and Iran could reach a deal to reopen the Strait of Hormuz "today or tomorrow," with "freedom of movement" through the waterway. No deal was final as of that date. The strait carries roughly a fifth of global oil supply. A June agreement evidently failed to fully restore navigation.