President Donald Trump posted that a peace accord with Iran is near finalisation and that the Strait of Hormuz will be reopened shortly. He said the draft extends the current cease‑fire by 60 days, permitting Iranian oil shipments while broader nuclear talks continue. The claim arrived as Iranian media expressed skepticism, with Tasnim echoing some details but Fars dismissing the timeline as unrealistic.

Axios, citing a U.S. official, reported the agreement would also call for an end to the Israel‑Hezbollah front in Lebanon, a provision Israel may resist. Tehran seeks a waiver on oil sanctions extending to petrochemicals and the release of frozen assets, while refusing to abandon uranium enrichment. Regional players—including the UAE, Saudi Arabia and Qatar—have pressed Trump for more negotiation time.

Oil markets have already reacted, with Brent hovering above $100 a barrel as the strait’s closure choked roughly one‑fifth of global oil flow. A swift reopening could ease price pressure but would also signal a diplomatic concession that hawkish allies view as a defeat. With midterm elections looming, Trump faces a trade‑off between domestic fuel costs and perceived strategic credibility.