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

CAIRO -- 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. That could potentially reopen the critical waterway, ease pressure on the world economy and help bring an end to the war.