Rubio: Hormuz Deal Could Be Reached Soon
US Secretary of State Marco Rubio stated that talks with Iran and Oman regarding the reopening of the Strait of Hormuz have shown progress. However, he emphasized that no final agreement has been reached yet.
"There has been progress in the talks, but they have not yet reached the final stage. We hope that can happen in the near future," said Rubio.
Earlier, US Treasury Secretary Scott Bessent mentioned that Washington has a chance of reaching an agreement with Tehran within a day or two. The agreement would focus on restoring the flow of commerce through the Strait of Hormuz.
The Qatari Foreign Ministry also stated that efforts to resolve the US-Iran conflict have reached a very advanced stage. Nevertheless, Qatar confirmed that there have been no direct talks between Washington and Tehran.
Market impact: Diplomatic progress tends to put downward pressure on oil prices as the risk of supply disruptions through Hormuz diminishes. Gold may lose some safe-haven demand, though the decline could be limited if cheaper oil eases inflation and lowers expectations for Federal Reserve interest rate hikes. Meanwhile, the US dollar could weaken slightly due to improved risk sentiment and reduced demand for safe-haven assets.
Source: Newsmaker.id
