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Trump Says Iran Peace Deal Within Reach As Hormuz Talks Continue

04 Aug 2026 Trump Says Iran Peace Deal Within Reach As Hormuz Talks Continue

President Donald Trump has said a new agreement with Iran is within reach, describing the negotiations as a final opportunity to prevent further conflict.

Speaking to reporters, Trump claimed he had delayed planned military action after appeals from regional leaders, saying negotiations were progressing and could lead to the immediate reopening of the Strait of Hormuz, one of the world's most important oil shipping routes.

Trump described the proposed agreement as a two stage process. The first phase would restore commercial shipping through the Strait of Hormuz, while the second phase would focus on Iran's nuclear programme and long term regional security arrangements. He warned that Iran was facing its "last chance" to reach an agreement.

Iran, however, rejected Trump's claims that direct negotiations with the United States were underway. Iranian officials said discussions were taking place only with Oman, which has been acting as a mediator over maritime navigation and temporary arrangements for shipping through the Strait of Hormuz.

Oman's mediation efforts have focused on creating a temporary mechanism to allow commercial vessels to move safely through the waterway while broader political issues remain unresolved. Iranian officials have indicated progress is being made with Muscat, but maintain that wider disputes with Washington remain unsettled.

The uncertainty surrounding negotiations has continued to affect global energy markets. Oil prices have fluctuated sharply in recent weeks as investors react to both military developments and signs of possible diplomatic progress between Washington and Tehran.

Regional tensions also remain high following reports of attacks on commercial vessels operating near the Strait of Hormuz. Maritime security agencies are continuing to monitor shipping traffic while governments across the region seek to prevent further escalation.

While both sides have expressed interest in reducing tensions, significant differences remain over Iran's nuclear programme, sanctions, and long term security guarantees. Diplomats say further negotiations will be required before any comprehensive agreement can be finalised.

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