“They had an all-day negotiation today, and it looks like things are very good. And if that happens, where the Strait has opened up … but if the Strait opens up, and it’s partially opened anyway, and as you know, we control the Strait totally through the blockade. But if we have no friction, then oil will go down to, I think it’ll go down to $2.50 a gallon,” he added, referring to retail gas prices.
Trump added that the oil companies have got to start lowering gas prices.
Later, speaking to reporters in the state of California, he said the US is “moving along very nicely” with Iran.
“We’re moving along very nicely. We’ll find out. We’ll know in 48 hours,” he added.
The US, Iran and Oman are nearing an interim agreement aimed at reopening the Strait of Hormuz and restoring a ceasefire between Washington and Tehran, with a possible announcement expected as early as Wednesday, the Axios news site reported on Tuesday.
Earlier on Tuesday, US Secretary of State Marco Rubio said Washington and Tehran have yet to finalise talks on passage through crucial international waterways, but he hopes an agreement will come “very shortly.”
Iran has been engaged in a conflict with the US since February, when the US and Israel launched a joint offensive on Tehran. Iran retaliated with drone and missile strikes on Gulf nations hosting US assets.
The US and Iran agreed to a ceasefire in April and subsequently signed a Pakistan-mediated memorandum of understanding in June aimed at ending their military conflict and reaching a lasting peace agreement.
The deal, however, collapsed last month, with the two sides exchanging attacks for nearly two weeks before Trump abruptly halted the bombardment amid reports of talks to resolve the conflict.
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