Negotiations between the United States and Iran on reopening the Strait of Hormuz have entered their final phase. Commercial maritime traffic has collapsed from 130 ships per day to just 8 since February 2026. This 21-mile waterway handles approximately 20% of global oil supply. President Trump said on August 5 that a deal could be finalized by mid-week, while Iran and Oman have already agreed on preliminary shipping lane coordinates. A memorandum of understanding signed on June 17, 2026 proposed a temporary 60-day reopening linked to a ceasefire and dialogue on Iran’s nuclear program.
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