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

CAIRO (AP) — Iran said Wednesday it is in the “final stage” of drafting an agreement with Oman over the Strait of Hormuz, and U.S. President Donald Trump has said a deal could be announced this week. The officials, who were briefed on the negotiations, portrayed the potential deal as a temporary solution to the dispute over the strait. The Houthis claimed to have fired a ballistic missile at another Saudi oil tanker. In July, the Houthis announced they were closing the Bab el-Mandeb Strait that leads to the Red Sea for Saudi-linked shipping. That puts additional pressure on international shipping since the Red Sea became a key alternative route for Saudi oil exports during the war.