According to WSJ, Trump has spent weeks preparing the groundwork for such an outcome and has privately told senior aides that he could withdraw without securing a formal agreement with Tehran.
Iran's security chief on Saturday laid out a list of demands for reopening the strait, including an end to the "war and aggression against Iran and its allies in Lebanon, Palestine, Yemen and Iraq".
Tehran's politburo-like body known as the Supreme National Security Council also issued new demands that could shake up talks on a deal to manage the waterway and traffic on it.
Closure of the strait, through which a fifth of the world's traded oil and natural gas once passed, has driven up the price of fuel and basic goods, roiling the global economy.