Pakistan, Aug. 4 -- US Treasury Secretary Scott Bessent said Washington and Tehran could reach an agreement to reopen the Strait of Hormuz by Wednesday. He said the move could help stabilize global energy prices and ease tensions.

Speaking in an interview with CNBC, Bessent said the United States was engaged in talks with Iran. He said there was a possibility of reaching a deal soon to restore movement through the strategic waterway.

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Bessent said reopening the Strait of Hormuz would help move the conflict toward a more normalized situation. Moreover, he described the potential agreement as a measure focused on freedom of movement for shipping.

The US Tre...