A top US official said Tuesday that a deal with Iran to reopen the Strait of Hormuz could be struck "today or tomorrow", sending oil prices tumbling on hopes of increased shipments through the vital waterway.

US President Donald Trump says latest round of talks with Tehran to begin today

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

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…