WASHINGTON, D.C. / RankWire.AI / – President Donald Trump indicated that the United States would halt an anticipated strike on Iran if negotiators could finalize an agreement swiftly. He emphasized that such a deal should include reopening the Strait of Hormuz and addressing Iran’s nuclear program. Additionally, Trump noted that Israel was supportive of the diplomatic efforts. As of Monday, the White House had yet to announce a signed agreement, and the details and official timeline remained undisclosed.
Iran disputed Trump’s assertion that Tehran had requested Washington to cease the planned military action. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman regarding navigation routes had entered their final phase. Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, explained that discussions involved a new route through the waterway but remained separate from any decision to fully reopen Hormuz. Iran also kept its armed forces on alert status.
This announcement came after a call between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi Arabia reported that during the call, the crown prince emphasized the importance of dialogue and reducing tensions in the region. Trump previously identified Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the negotiations. Washington did not specify a formal schedule for the talks. Saudi Arabia continues to support direct diplomatic engagement between the United States and Iran.
Negotiations address nuclear issues and maritime tensions
On February 28, the United States and Israel launched military strikes targeting Iran’s missile capabilities and nuclear sites. Washington stated that the operations aimed to weaken Iran’s nuclear program and missile systems. A temporary ceasefire was established in June, but the agreement eventually collapsed, and military activities resumed. Iran maintains that it does not seek nuclear weapons and defends its right to civilian nuclear technology.
The Strait of Hormuz remains a central element in the ongoing negotiations, as it plays a vital role in global energy transportation. Prior to the conflict, roughly 20% of the world’s oil and liquefied natural gas shipments traveled through this route. Iran’s restrictions have led to reduced tanker traffic and increased transportation costs. Recent security incidents near Oman include a projectile damaging a tanker’s engine room, though officials reported no casualties over the weekend.
Oil prices decline following the announcement
Oil prices dropped sharply on Monday after Trump announced that the planned U.S. attack would be canceled if an agreement was reached. Brent crude fell by $4.49, or 5.1%, trading at $83.44 per barrel during early trading. U.S. West Texas Intermediate decreased by $4.90, or 5.8%, reaching $79.77. Both benchmarks had seen gains of over 20% in July. OPEC+ also approved an increase of approximately 188,000 barrels per day for September.
As of early Monday, no final agreement on nuclear, maritime, or security issues had been finalized. Trump linked the cancellation of the attack to the swift conclusion of an agreement. Iran continued negotiations with Oman while keeping its military readiness high. Israel stated it remains in close security cooperation with the United States. The current negotiations focus on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.