BlockBeats report: On August 5, U.S. Treasury Secretary Bentsen stated that the U.S. and Iran may reach an agreement within the next one or two days to reopen the Strait of Hormuz and restore "freedom of passage." Previously, U.S. President Trump spoke by phone with Qatar’s Emir Sheikh Tamim, discussing efforts to ease tensions between the U.S. and Iran.
According to Xinhua News Agency, Iranian Foreign Ministry Spokesperson Baghaei stated on the 4th that Iran is still negotiating with Oman on the issue of the Strait of Hormuz, with "positive progress" made on both technical and political levels. The negotiations focus on determining safe shipping lanes and establishing mechanisms to regulate maritime traffic in the strait.
Expectations of diplomatic de-escalation have intensified, causing international oil prices to drop sharply. Brent crude futures closed nearly 6% lower on the day, settling below $80 per barrel at $78.52; U.S. crude futures fell over 6%, breaking below $76 per barrel and currently trading at $74.28 per barrel.
U.S. Secretary of State Rubio said that relevant negotiations have made progress but have not yet been finalized, and the U.S. hopes to reach an agreement "soon." Bessent stated that once the strait resumes navigation, prices of energy, fertilizers, refined oil, and other goods could decline further.
However, the current arrangements have not yet been formally implemented. Previously, the U.S. and Iran reached a temporary agreement to restore Hormuz shipping, but it ultimately collapsed due to issues concerning routes and security. Analysts believe that even if a new agreement is reached, it does not signify the complete end of U.S.-Iran tensions, as there remains a risk of further escalation.