Trump says Strait of Hormuz could be reopened Wednesday after touting 'very good' Iran negotiations

On Tuesday night before getting onto Air Force One, President Donald Trump told reporters that "a lot of progress" had been made in negotiations with Iran, adding that a deal to reopen the Strait of Hormuz could come "tomorrow or the next day."

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WHAT TO KNOW

• As President Donald Trump seeks another deal with Iran, some analysts estimate the U.S. has used more than half of its stockpiles of certain key munitions in the conflict. Though experts say current inventories remain sufficient, they warn the bigger risk is reduced readiness as replenishing stockpiles could take years.

• The U.S. continues to enforce a naval blockade on Iranian ports, while fighting in and around the Strait of Hormuz has sharply reduced shipping through one of the world's busiest energy corridors.

• Bloomberg reports that Iran is weighing a proposal to allow European countries to help clear mines from the Strait of Hormuz, though no final decision has been made.

• Trump and other administration officials are saying a deal to open the Strait of Hormuz could be as close as today or tomorrow. Read more, and see videos here.