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President Trump warned that Iran would be "hit very hard" if the Strait of Hormuz was not reopened to shipping soon, keeping military pressure on Tehran even as diplomacy proceeded. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both said talks had progressed sufficiently to allow shipments through the waterway to resume. Oil prices fell on the signals that traffic through the chokepoint, which carries a large share of global seaborne crude, could restart. The closure of Hormuz has been one of the most economically consequential effects of the conflict, and its reopening is a central test of whether any US-Iran understanding can hold.