WASHINGTON, D.C. / RankWire.AI / – President Donald Trump indicated that the United States would halt an anticipated attack on Iran if negotiators swiftly reached an agreement. Trump emphasized that the deal should result in the reopening of the Strait of Hormuz and tackle Iran’s nuclear program. He also mentioned that Israel was supportive of the diplomatic efforts. As of Monday, the White House had not revealed a signed deal, and specific terms or a formal timetable remained undisclosed.
Iran disputed Trump’s claim that Tehran had asked Washington to stop the planned military action. Iranian Foreign Minister Abbas Araqchi announced that discussions with Oman regarding navigation routes had reached their final phase. Esmaeil Baghaei, the Foreign Ministry spokesperson, added that these talks involved a new route through the waterway but were separate from any decision about fully reopening Hormuz. Meanwhile, Iran kept its armed forces on alert.
This announcement came after a phone call between Trump and Saudi Crown Prince Mohammed bin Salman, during which the crown prince highlighted the importance of dialogue and reducing regional tensions. Trump listed Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the negotiations. Washington did not release a finalized schedule for the talks. Saudi Arabia has consistently supported direct diplomatic engagement between the U.S. and Iran.
Discussions include nuclear issues and maritime security
On February 28, the United States and Israel initiated military actions against Iran, targeting missile capabilities and nuclear sites. A temporary ceasefire paused hostilities through much of June, but the agreement later unraveled, leading to resumed military operations. Iran maintains it does not seek a nuclear weapon, asserting its right to civilian nuclear technology while rejecting allegations to the contrary.
The Strait of Hormuz remains central to the talks because it handles significant global energy shipments. Prior to the conflict, roughly 20% of the world’s oil and liquefied natural gas passed through this passage. Iranian restrictions have curtailed tanker traffic, raising transportation costs and prompting recent security concerns near Oman. Officials reported several incidents, including a projectile damaging a tanker’s engine room, with no casualties reported during the weekend.
Crude prices decline following policy shift announcement
Oil prices experienced a sharp decrease on Monday after Trump stated that the planned U.S. military strike would be canceled if an agreement was reached. Brent crude dropped $4.49, or 5.1%, and was trading at $83.44 per barrel in early trading. U.S. West Texas Intermediate declined $4.90, or 5.8%, settling at $79.77. Both benchmarks had increased over 20% throughout July. Additionally, OPEC+ approved an increase of roughly 188,000 barrels daily for September.
As of early Monday, no definitive nuclear, maritime, or security agreement had been finalized. Trump linked the cancellation of the strike to the swift conclusion of an accord. Iran continued negotiations with Oman while maintaining military alertness. Israel stated that it remains in close security coordination with the United States. The negotiations concentrate on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the ongoing five-month conflict.