Trump Says Iran Talks Make Progress

US President Donald Trump said his administration had held “very good discussions” with Iran during all-day negotiations on Tuesday, raising hopes that the five-month conflict could soon end.

Trump told Fox News that the Strait of Hormuz would reopen “very soon”. He warned that Iran would be “hit really hard” if it withdrew from an agreement again.

Axios reported that the US and Iran were close to an interim agreement to reopen the strait with Oman’s approval. Iranian state media, however, said any agreement would be delayed as long as Washington continued to threaten Tehran.

Oil prices fell and Asian stocks rose on expectations that shipping could resume through the strait, which normally carries about a fifth of global oil and liquefied natural gas shipments.

Qatar also reported progress in mediation efforts. Iran said separate technical talks with Oman on establishing safe shipping lanes were continuing.

(Reuters, est)