The United States, Iran and Oman are said to be nearing an interim deal to reopen the Strait of Hormuz, a critical route for global oil and gas supplies whose transit has remained a sticking point in talks and fuelled renewed fighting following an April ceasefire.

Iran has tightened its grip on the strait since the war began on February 28, seeking to control passage through it and charge tolls — powers it did not previously exercise.President Donald Trump said Tuesday that a deal to reopen the strait could come “tomorrow or the next day,” telling reporters in California that negotiators “had a very good day.”

Earlier, however, he struck a more threatening tone, telling Fox News: “The strait is going to be open very soon, or they’re going to get hit very hard — and then the strait’s going to be open. All you can do is fight your way out.”

The volatility of the situation was underlined Tuesday when one crew member was listed missing after a merchant ship was struck by a projectile in Hormuz, while an Indian ship sank in the Red Sea following an unattributed attack.

It is a pattern that has repeated itself in recent weeks: last week, Trump threatened to hit Iran “very hard,” potentially targeting civilian infrastructure, before pulling back and hinting a deal was close. Iran’s foreign ministry has denied that negotiations with Washington are taking place, even as Trump has insisted they are ongoing.

Secretary of State Marco Rubio said Tuesday that the US was involved in talks between Oman and Iran aimed at increasing traffic through the strait. Axios reported the same day that the US, Iran and Oman were nearing an interim deal, which Washington hoped to announce Wednesday. Citing unnamed regional and US officials, the outlet said the arrangement on the table would guarantee safe passage through the strait between Iran and Oman for 60 days.

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