U.S. says Strait of Hormuz is 'free and open' as Bessent says deal with Iran is close
📰 source: cnbc_topnews · 💼 business
the u.s. military said the southern route of the strait of hormuz remains free and open, after treasury secretary scott bessent said a deal with iran could come as soon as this week. bessent told cnbc that talks are ongoing and there's a chance for a deal today or tomorrow to open the strait and normalize the conflict.
oil prices fell sharply tuesday, with brent sliding 5.3% and wti dropping 5.7%, before stabilizing wednesday. a senior middle east diplomat said the u.s. and europe are pressuring oman to accept a temporary agreement with iran. a pakistani official said a document on reopening the strait is close to being finalized, with talks held between iran and oman and mediated by pakistan, with the u.s. involved indirectly.
also tuesday, reports emerged that the u.s. military used nearly all of its long-range precision missiles during the iran war, depleting army tactical missile systems and exhausting almost 80% of thaa d interceptors. president trump said washington has far more munitions than anyone and defense companies are making more than ever. white house deputy press secretary anna kelly said the military has more than enough stockpiles.
why it matters: iran deal could reopen strait of hormuz, easing oil supply fears; u.s. missile stockpile worries may boost defense spending.
source: cnbc_topnews
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