Trump insists US will not allow Iran to impose tolls on shipping through the strait

As Iran and Oman edged closer to an agreement to reopen the vital waterway and possibly contribute to the end of the war, US President Donald Trump stated that a deal on the Strait of Hormuz may be reached as early as Wednesday or Thursday.

Reporters accompanying Trump on his trip in California questioned him about a report on the news website Axios that said an announcement regarding the Strait of Hormuz might be made on Wednesday.

"It might occur. Speaking on Tuesday night California time, which was already Wednesday morning in the Middle East, he said, "Tomorrow or the next day." "A great deal of progress has been achieved." Oil prices eased on hopes of progress for a deal that would allow oil tankers to freely exit the Persian Gulf again and deliver crude around the world. Brent crude, the international standard, slipped by 1.2% to $78.43 per barrel early Wednesday.

The possible agreement emerging from talks between Iran and Oman calls for ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman, two regional officials told The Associated Press. Service fees would be charged for providing security and preserving the maritime environment, the officials said.
The officials discussed the delicate negotiations under the condition of anonymity.

Before the US and Israel attacked Iran on February 28, the strait was an open international waterway, but the Trump administration has repeatedly rejected any agreement that would grant Iran sovereignty over it. Since the beginning of the conflict, Iran's attacks have limited shipping through the canal to a trickle at best. Approximately one-fifth of the world's natural gas and oil traveled through the strait.

The US president reaffirmed his stated opposition to tolls being imposed in the strait during a Monday interview with reporters. Trump declared, "I'm not going to let them charge." "We'll charge if anyone wants to." Trump is under mounting pressure to end an unpopular war that has driven up gas prices ahead of midterm elections and drawn down US supplies of some munitions. In recent days, he has again alternately threatened massive strikes and voiced support for diplomatic efforts. Trump said Monday that the US was in talks with Iran, saying it was Tehran's “last chance” to reach a deal and avoid another US military escalation.