The United States could announce an agreement with Iran to reopen the Strait of Hormuz as early as “today or tomorrow,” according to U.S. Treasury Secretary Scott Bessent.

Bessent said negotiations are progressing and expressed optimism that a breakthrough could be reached soon. He noted that financial markets have responded positively to the prospect of easing tensions, with oil prices declining while the S&P 500 climbed to an intraday record high.

The Strait of Hormuz is one of the world’s most strategically important shipping routes, carrying a significant share of global oil exports. Any agreement to restore normal maritime traffic would be closely watched by governments and energy markets worldwide.

However, uncertainty remains over the negotiations. Iranian officials have recently denied that any direct talks with Washington are taking place, casting doubt on the prospects for an imminent agreement.

Despite the conflicting statements, investors continue to monitor developments