U.S. President Donald Trump said a deal to reopen the Strait of Hormuz could come as early as Wednesday, as Iran and Oman inch toward an agreement on this strategic waterway. Iranian and Omani negotiators have finalized a draft deal and are awaiting final approval from Iran’s supreme leader. The potential agreement would allow ships to enter the Persian Gulf through an Iranian-controlled route and exit through an Omani-controlled route. Brent crude was trading around $80 per barrel Wednesday, well below the peaks hit during the height of the conflict. Attacks on shipping in the region continued nonetheless, with Houthi rebels firing ballistic missiles at a Saudi oil tanker in the Red Sea.
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