Progress in talks between Washington and Tehran could reopen the Strait of Hormuz to shipping, easing regional trade tensions.
US officials indicated progress in negotiations with Iran and Oman to reopen the Strait of Hormuz, a critical shipping lane. Secretary of State Marco Rubio said a deal could be reached “very shortly,” though no final agreement has been confirmed.
Earlier, Treasury Secretary Scott Bessent suggested an accord might be finalized by tomorrow. Qatar’s foreign ministry described efforts to resolve the conflict as “in very progressive stages,” though direct US-Iran talks remain absent.
Markets may interpret the potential deal as a shift toward “risk-on” sentiment, benefiting equities, commodities, and commodity-linked currencies like AUD, CAD, and NZD.