Iran Can Reportedly Reopen the Hormuz Strait in Two Days if U.S. Talks Progress

Iran has a plan to reopen the Strait of Hormuz in two days if talks with the U.S. progress and broader negotiations to end the war take place.

For that to happen, Tehran reiterated that Washington needs to meet seven conditions, including lifting the blockade of U.S. ports, lift sanctions and agree to a ceasefire that includes Lebanon.

"This once again demonstrates Iran's good-faith approach," said Iranian Foreign Ministry spokesperson Esmail Baghaei.

Hopes of a breakthrough are climbing on Monday. Iranian President Masoud Pezeshkian said that Supreme Leader Mojtaba Khamenei gave the government "certain authorities" to conduct negotiations.

Iranian state media reported that Pezeshkian went on to say that Tehran seeks to solve the war with the U.S. without returning to full-fledged hostilities.

Oil prices fell further following the development, with Brent crude, the international benchmark, plunging about 6% and going back below $107 a barrel.

Secretary of State Marco Rubio said during the weekend that President Donald Trump would rather solve the war "diplomatically."

Speaking to press, Rubio said Trump has not made a decision while negotiations continue, but his threats represent "incredible confidence that if we needed to do something militarily, we would have the ability to do it, and we really we have everything we need to be successful." However, he clarified, the administration "would prefer to do it peacefully."

Trump, on his end, said the conflict will end "very soon, one way or the other." "Either they'll make a deal, or we'll just end it," he added.

Elsewhere, another report detailed that Trump and Israeli Prime Minister Benjamin Netanyahu are disagreeing about the next step.

Citing sources familiar with the matter, Axios detailed that Netanyahu wants to jointly strike Iran after the U.S. midterms on Tuesday, while Trump prefers to give more time for negotiations to play out.

Time, however, could bring different challenges to Netanyahu's plans. The likelihood that the leaders of the Zionist opposition bloc and the Arab parties will form a coalition government which would oust him is growing.

Parties that make up Netanyahu's ruling bloc won 53 seats, while the so-called "Zionist opposition" bloc won 48. The Arab parties, Ra'am and the Joint List, won a total of 19 seats, which means they could be the kingmakers in forming a government with either coalition.

The Telegraph reported on Saturday that the Arab parties are expected to support the opposition bloc, led by former Israeli Defense Forces (IDF) Chief of Staff Gadi Eisenkot, in their bid to form a government.