- Trump said talks with Iran are going on right now at the request of Iran, Saudi Arabia, the United Arab Emirates, Qatar and others, while Tehran continues to deny direct negotiations.
- Trump called off massive attacks on Iran to allow for talks, which lifted market sentiment and sent oil prices slumping; prices later rebounded as traders saw a diplomatic solution in doubt.
- Oil prices ticked higher Tuesday, with futures up 1.29% at $81.38 per barrel and the international benchmark up 1.73% at $85.23 a barrel.
- Iran's President Masoud Pezeshkian said Tehran would continue to defend its borders but insisted it does not seek an expansion of the conflict, per state media.
- Iranian foreign ministry spokesperson Esmail Baghaei said there is no immediate plan for negotiations with the U.S., with Tehran only engaged in talks with Oman regarding the Strait of Hormuz.
President Trump stated that negotiations with Iran are currently ongoing at the request of Saudi Arabia, UAE, and Qatar, emphasizing this as a potential "last chance" to resolve the five-month conflict.
However, Tehran has firmly denied any direct talks with the U.S., with Iranian foreign ministry spokesperson Esmail Baghaei asserting there are no immediate plans for negotiations, stating, "Tehran is currently only engaged in talks with Oman regarding the Strait of Hormuz."910
The situation escalated after Trump called off planned military actions against Iran to facilitate these discussions. This decision has influenced market dynamics, with oil prices experiencing fluctuations amid uncertainty over the diplomatic efforts. Following the announcement, oil prices initially slumped but rebounded slightly as traders grew skeptical about a diplomatic resolution.
As of early Tuesday, futures were up 1.29% at $81.38 per barrel, while the international benchmark rose 1.73% to $85.23 a barrel, reflecting the market's reaction to the ongoing geopolitical tensions.
“Iran's President Masoud Pezeshkian emphasized that Tehran will defend its borders but does not seek to expand the conflict. Meanwhile, Iranian foreign ministry spokesperson Esmail Baghaei reiterated that there are no immediate plans for negotiations with the U.S., focusing instead on talks with Oman regarding the Strait of Hormuz.”
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