Trump says agreement with Iran to reopen Strait of Hormuz ‘could be soon’

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. President Donald Trump said a deal with Iran to reopen the Strait of Hormuz has not yet been finalized, but he is personally involved in negotiations that are going “very well.” President Donald Trump said negotiations with Iran are continuing and an agreement on reopening the Strait of Hormuz -- a key waterway connecting the Persian Gulf to the Gulf of Oman -- could come in the near future. Trump added that he expects gasoline prices to continue falling as the conflict with Iran winds down, arguing that military action against Tehran helped stabilize energy markets. Israel and the United States on Thursday successfully tested the Arrow missile defense system, marking the latest joint effort by the two allies to strengthen defenses against long-range ballistic missile threats as tensions with Iran continue. U.S. Central Command said Thursday that U.S