President Donald Trump told reporters on Tuesday evening, August 4th, 2026, that "a lot of progress had been made" toward reopening the Strait of Hormuz, a critical waterway, and suggested an announcement could come as soon as Wednesday, August 5th, or Thursday, August 6th. The talks involve Iran and Oman, with an Iranian source telling CBS News the discussions are largely focused on the mechanics of reopening the strait and the revenue split between the two countries, with broad outlines reportedly agreed upon and remaining talks centered on implementation and timing.

Meanwhile, Yemen's Iran-backed Houthi rebels claimed responsibility for attacking a Saudi oil tanker off Yanbu in the Red Sea on Wednesday, August 5th. This marks the eighth Saudi oil tanker targeted since the start of the maritime blockade on July 22nd, according to a Houthi military spokesman. Yahya Saree, a Houthi military official, stated in a video that the group "successfully targeted the Saudi oil tanker 'Wafa' in the northern Red Sea, off the coast of Yanbu, with a number of ballistic missiles."

In related developments, two sources with direct knowledge told CBS News that the U.S. has used nearly all of its global stockpile of long-range precision missiles during the ongoing war with Iran. U.S. officials noted limited inventories of ATACMS and Precision Strike Missiles, with particular concern over the number of Patriot and Terminal High Altitude Area Defense interceptors, which have been expended faster than industry replacement rates. However, Defense Secretary Pete Hegseth has dismissed concerns about the U.S. stockpile, calling such reports "a manufactured story that the media wants to peddle," and asserting that "our stockpiles are great, and they're only getting stronger."

President Trump expressed confidence in the U.S. stance, stating, "Anybody's going to charge, we'll charge," underscoring a firm posture amid the tensions.

Sources