US-Iran Can Reach an Agreement on the Strait of Hormuz, US Treasury Predicts Energy Prices Will Return to Stability

JAKARTA - Finance Minister Scott Bessent said the United States could reach an agreement with Iran to reopen the Strait of Hormuz on Wednesday, adding that this would stabilize energy prices.

"We are negotiating with Iran, and I think there is a possibility that we can reach an agreement today or tomorrow to open the strait and move towards a more normal position in this conflict," Finance Minister Bessent said on Tuesday in an interview with CNBC, launching Al Arabiya from AFP (4/8).

Asked if the deal would allow Iran to impose tolls on shipments using the strait, Bessent said: "I think it would give freedom of movement."

The comments of the Minister of Finance Bessent echoed the statement of US President Donald Trump on Monday, who insisted that the waterway could be reopened within hours after he withdrew the threat of a massive military attack against Iran.

Meanwhile, Iran's Foreign Ministry denied that negotiations with Washington were underway.

On Tuesday, an unidentified projectile hit a cargo ship in the Strait of Hormuz, a major point of tension in the US-Iranian conflict.

Finance Minister Bessent is optimistic about the impact of the agreement with Iran on the strait on energy prices, where he said hundreds of ships are waiting to sail.

"Although the situation has been somewhat precarious in recent days, we have seen quite a few ships sailing even now," said Finance Minister Bessent.

"So, I expect energy prices to stabilize again, which, as I said, will be good for the whole world," he added.