WASHINGTON, D.C. / RankWire.AI / – President Donald Trump indicated that the United States would halt plans for an attack on Iran if negotiators swiftly reached an agreement. He emphasized that the deal should reopen the Strait of Hormuz and address Iran’s nuclear program. Trump also mentioned that Israel supported the efforts to finalize the deal. His statement put an end to the preparations for another U.S. military strike, with officials not having released a signed agreement or detailed terms as of Monday morning.
Iran did not verify Trump’s claim that Tehran had requested Washington to cease the attack. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman regarding navigation routes were nearing their conclusion. Esmaeil Baghaei, a Foreign Ministry spokesperson, said discussions centered on a new route via the waterway, explicitly separating those talks from any decisions about fully opening or closing the strait. Iran’s military forces remained on alert following the U.S. announcement.
Following a phone call with Saudi Crown Prince Mohammed bin Salman, Trump made his remarks. During the conversation, Saudi Arabia’s crown prince urged for dialogue and reducing tensions in the region. Earlier, Trump had named Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the diplomatic effort. The White House did not specify a timeline for completing the negotiations. Meanwhile, Saudi Arabia continues to support dialogue between Washington and Tehran.
Discussions center on nuclear and maritime issues
The United States and Israel launched strikes against Iran on February 28, targeting missile capabilities and nuclear sites. An interim deal in June temporarily halted hostilities, but it eventually unraveled, leading to renewed military actions. Iran maintains its stance denying the pursuit of nuclear weapons while asserting its right to civilian nuclear technology.
The Strait of Hormuz continues to be a critical concern, as it facilitates a significant portion of global energy exports. Prior to the conflict escalation, roughly 20% of the world’s oil and liquefied natural gas moved through this route. Iran’s restrictions have slowed tanker traffic, increasing shipping expenses. Authorities reported several recent security threats near Oman, including an incident where a projectile damaged a tanker’s engine room, though no casualties were reported over the weekend.
Crude Oil Prices Drop After U.S. Attack Plans Are Suspended
Oil prices sharply declined on Monday following Trump’s announcement that the planned U.S. attack was canceled. Brent crude decreased by $4.49, or 5.1%, settling at $83.44 per barrel early in the day. U.S. West Texas Intermediate fell by $4.90, or 5.8%, ending at $79.77 a barrel. Both benchmarks had surged over 20% in July amid heightened fighting near vital shipping routes. Additionally, OPEC+ approved an increase in September production by approximately 188,000 barrels daily.
By early Monday, no definitive agreement had been reached regarding nuclear issues, shipping, or security. Trump left the attack plan on hold, contingent on the swift conclusion of negotiations. Iran continued talks with Oman and maintained its military preparedness. Israel stated it remained closely coordinated with the United States on security matters. Negotiations focus on access through the Strait of Hormuz, Iran’s nuclear ambitions, and ending the five-month-long conflict.