Trump Says US, Iran Could Reach Deal Reopening Hormuz Strait Within a Week

President Donald Trump said June 1, 2026, that the United States and Iran may finalize an agreement within a week to extend a ceasefire and reopen the Strait of Hormuz, signaling progress in diplomatic efforts to ease Middle East tensions. In an interview with ABC News, Trump said negotiations were “looking good” after a brief disruption triggered by Iranian frustration over Israeli military actions in Lebanon. The president said he subsequently spoke with Hezbollah and Israeli Prime Minister Benjamin Netanyahu, urging both sides to halt fire, which de-escalated the situation. The potential memorandum of understanding, which could be finalized within the next week, would extend the ceasefire and restore full transit through the strategic waterway. About one-fifth of global oil supplies pass through the Strait of Hormuz. Trump cautioned that the deal has not been formally approved, with some terms still under negotiation, but said a peace agreement could be more significant than a military victory.