United States Secretary Scott Bessent indicated a potential deal with Iran regarding the Hormuz Strait. He stated that negotiations are ongoing and a resolution might be reached by Tuesday or Wednesday. This agreement could lead to the reopening of the vital shipping lane. Such a development would move the conflict towards a more normalized position. The Secretary shared these remarks during an interview with CNBC.

US Treasury chief says deal would include freedom of movement for commercial ships, as another vessel hit in Hormuz.

Oil prices fell and stocks rose after the treasury secretaries comments in an interview on Tuesday morning.