Trump Warns Iran Over Hormuz Strait as Oil Prices Slide on Diplomatic Hopes

United States President Donald Trump has warned that Iran could face severe consequences if the Strait of Hormuz is not reopened soon, as global oil prices declined on growing optimism over possible diplomatic progress.

Speaking during an interview with Fox News, Trump said the strategic waterway could reopen “very soon” but cautioned that Iran would face a strong response if shipping through the route remained blocked.

The warning came as US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent disclosed that discussions aimed at restoring commercial navigation through the Strait of Hormuz had made progress. While no agreement has been announced, US officials expressed hope that a deal could be reached soon.

The positive outlook pushed global oil prices lower. Brent crude fell below $80 per barrel, while US West Texas Intermediate crude also recorded significant losses as traders anticipated an easing of supply disruptions.

The Strait of Hormuz, located between Iran and Oman, is one of the world’s most important energy corridors, handling nearly one-fifth of global oil and liquefied natural gas shipments. Traffic along the route has been severely disrupted since tensions between the United States and Iran escalated earlier this year.

Iran has, however, denied holding direct talks with the United States, saying any ongoing diplomatic engagement is being conducted through Oman, which is acting as a mediator between both countries.

The latest developments come as instability in the Gulf continues to affect global energy markets, with shipping routes remaining under heightened security and concerns over oil supply continuing to