EnergyReader · 2026-08-05 21:45

Trump Says US-Iran Deal Days Away as Mined Hormuz Lane Keeps Oil Skeptical

By EnergyReader Newsroom · August 5, 2026

President Trump said late Tuesday (2026-08-04) that a deal with Iran was imminent — "Tomorrow (2026-08-06) or the next day. A lot of progress has been made" — as Qatar signalled a proposal had been drafted and US Treasury Secretary Scott Bessent struck a hopeful tone on reopening the Strait of Hormuz. ICE Brent crude front-month stood at $79.31 a barrel on Wednesday (2026-08-05), down 0.25% on the day. Traders are treating the diplomatic optimism with measured caution rather than pricing in a clean reopening.

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