Trump expresses optimism about lower fuel prices as US-Iran move closer to potential deal on Strait of Hormuz

Washington, DC: US President Donald Trump expressed optimism that fuel prices could decline as negotiations between the United States and Iran over the Strait of Hormuz move closer to a potential agreement.

According to Fox News, Trump said progress in the talks could help stabilise one of the world's most critical maritime trade routes for oil shipments, raising hopes of lower gasoline prices if the negotiations are successfully concluded.

Also read: Iran and the US say a Strait of Hormuz deal is close, but one or both would have to back down


President Trump made the remarks speaking to reporters at the Oval Office on Thursday (local time), also voicing confidence that the conflict involving Iran would end "pretty soon," saying he did not believe the Islamic Republic could sustain the confrontation much longer. He reiterated that the United States remains committed to ensuring Iran does not acquire a nuclear weapon.

"I think we're doing very well. I am involved in the negotiations. I think we are doing fine... it could be soon," Trump said, expressing optimism about the ongoing diplomatic efforts.

"When I started the very important excursion into the Islamic Republic of Iran, it was a very important excursion because they can't have a nuclear weapon, otherwise the whole world would get blown up. We're not gonna let that happen," Trump said.

Also read: Trump's Iran dilemma: He's stuck in war with no exit in sight

On the negotiations concerning the Strait of Hormuz, Trump noted that while security concerns remain, discussions are progressing.

"I don't want to say it has been... it's sort of open right now. We have a thing called the blockade headed up by the US Navy, and we control it. But they can always shoot something or drop a mine... if you have one mine sitting out there, you sort of mess things up because people don't want to take their billion-dollar boats and accidentally get hit by a mine," he said.

The Strait of Hormuz remains one of the world's most strategically important waterways, serving as a key transit route for global crude oil exports.