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Trump: Day-Long U.S.-Iran Talks Show Progress; Strait of Hormuz to Reopen Soon

GateNews
Commodities
According to President Trump's statement on Fox News on August 4, the U.S. and Iran held day-long negotiations with positive progress, and Trump expects the blocked Strait of Hormuz to reopen soon. Trump warned that if Iran backs out again, the U.S. will respond with "very heavy blows." According to Axios, citing Middle East sources and a U.S. official, the two nations are nearing a temporary agreement to restore shipping through the strait, with the U.S. hoping to announce a deal by August 5. However, Iran's official media cited sources saying the timeline could be delayed if the U.S. continues military threats. The talks have boosted market sentiment about a potential end to the five-month conflict, with oil prices declining and Asian stocks rising on August 5.
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