- Trump said Iran talks will resume Monday after he called off a “massive attack,” saying allied requests and a possible deal on Hormuz and Iran's denuclearization drove the move.
- Global oil prices sank Monday: Brent fell 4.2% to trade at $84 a barrel and WTI fell 5% to $80 a barrel after Trump announced he had called off a “massive attack.”
- Iranian state media gave no indication Tehran asked for the strikes to be called off, and semi-official agency Fars mocked Trump as “Trump the fool has run out of steam!”
- Iran said it is negotiating with Oman over a safe, “temporary” route through the Strait of Hormuz, while stressing it is not negotiating with the United States.
- Saudi Crown Prince Mohammed bin Salman raised concerns over planned strikes during a call, and Trump declined to say whether energy targets would have been hit, saying the US remained “locked and loaded and ready to go.”
- Iranian Foreign Minister Abbas Araghchi spoke with senior Saudi and Pakistan officials, and warned that any US-Israeli “aggression or hostile action” would meet a “firm and proportionate response.”
- OPEC+ will raise oil output by another 188,000 barrels a day, as its monitoring committee expressed concern over attacks on energy infrastructure and market volatility.
President Trump announced that talks with Iran will resume on Monday, following his decision to call off a planned military strike.123891011
“We’re all set to go, but when the allies asked to call it off, they got us sort of saying, ‘Well, let’s see.’” Trump indicated that allies believe a deal could be reached regarding the Strait of Hormuz and Iran's denuclearization.
Despite Trump's optimism, Iranian state media did not confirm any request from Tehran to halt the attacks, and Iran's Foreign Ministry spokesperson stated that the country is not negotiating with the United States.67
“Iran is currently in talks with Oman to establish a safe, ‘temporary’ route for vessels through the strait,” said spokesperson Esmaeil Baghaei.
The announcement led to a significant drop in global oil prices, with Brent crude futures falling 4.2% to $84 a barrel and WTI down 5% to $80 a barrel.45
Earlier, sources indicated that concerns were raised by the Saudi crown prince regarding the planned strikes.1213
“Any aggression or hostile action” by the U.S. and Israel would be met with a firm response, warned Iranian Foreign Minister Abbas Araghchi.
The situation remains tense as OPEC expressed concern over attacks on energy infrastructure, which could lead to increased market volatility.
“Iran's Foreign Ministry spokesperson Esmaeil Baghaei said Tehran is in talks with Oman on a safe, temporary route through the Strait of Hormuz and stressed it is not negotiating with the US. OPEC+ will raise output by another 188,000 barrels a day, citing concern over attacks on energy infrastructure.”
