Global markets watch as US, Iran edge toward a new Strait of Hormuz deal

U.S. President Donald Trump indicated a potential deal to reopen the Strait of Hormuz could be announced soon, as Iran and Oman progress toward an agreement on the critical waterway. The conflict, which began on Feb. 28 with U.S. and Israeli involvement, has disrupted shipping through the strait, raising fuel and goods prices globally and straining the economy.