# United States and Iran Near a Hormuz Deal as Israel Strikes Lebanon

Washington signals an agreement to reopen the Strait of Hormuz could be signed within days, even as fighting continues on a separate front.

- Published: 2026-06-05T11:16:20.435Z
- Canonical: https://polylog.news/2026-06-05/united-states-and-iran-near-a-hormuz-deal-as-israel-strikes
- Publisher: Polylog (Global desk)
- Section: geopolitics
- Sources: [The Hindu](https://www.thehindu.com/news/international/israel-iran-war-live-updates-june-5-2026-hezbollah-lebanon-news-strait-of-hormuz/article71063774.ece), [Globes (Hebrew)](https://www.globes.co.il/news/article.aspx?did=1001545119#utm_source=RSS), [IRNA (Farsi)](https://www.irna.ir/news/86173806/تنگه-هرمز-عصای-موسی-ماست-که-نباید-به-دست-دشمنان-داده-شود)

The central economic question of the war is whether the Strait of Hormuz, the route for roughly a fifth of the world's seaborne crude oil and liquefied natural gas, reopens. President Donald Trump has said an agreement to reopen the strait and extend the ceasefire with Iran is reachable, with [an optimistic target of a signing ceremony within the week](https://www.globes.co.il/news/article.aspx?did=1001545119#utm_source=RSS), according to Israeli business daily Globes. The framework under discussion would extend the ceasefire by 60 days, allow Iran to sell oil freely and open negotiations on its nuclear program, [reporting on the draft indicates](https://www.axios.com/2026/05/24/iran-deal-strait-hormuz-sanctions-nuclear).

The mood inside Iran is defiant. In Isfahan, a Friday prayer leader said the Strait of Hormuz [is the nation's source of leverage and will not be handed to enemies](https://www.irna.ir/news/86173806/تنگه-هرمز-عصای-موسی-ماست-که-نباید-به-دست-دشمنان-داده-شود), Iranian state agency IRNA reported, language that frames any reopening as a concession Tehran controls rather than concedes.

Meanwhile, the ceasefire remains fragile. Israeli strikes [killed seven people in the southern Lebanese city of Tyre](https://www.thehindu.com/news/international/israel-iran-war-live-updates-june-5-2026-hezbollah-lebanon-news-strait-of-hormuz/article71063774.ece), and the military issued new evacuation warnings for nine towns, The Hindu reported. Hezbollah's leader has rejected a parallel Israel-Lebanon arrangement, and separate reporting points to growing differences between Washington, which favors a deal, and an Israeli government that prefers a harder position.

## What this means

Oil prices and the broader path of inflation now depend on a single waterway and a deal that has been close for weeks without being completed. A signed reopening would relieve the energy pressure affecting Europe and Asia and could let central banks resume cutting interest rates, while continued strikes in Lebanon show how easily the ceasefire could collapse and push oil prices higher again.

## What to watch

- Whether a signing ceremony actually takes place within the stated timeframe.
- Oil and Asian liquefied natural gas spot prices as the strait's status shifts.
- Whether Israeli operations in Lebanon escalate enough to disrupt talks.