WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel an imminent attack on Iran if negotiators reached an agreement swiftly. Trump emphasized that the deal needed to reopen the Strait of Hormuz and tackle Iran’s nuclear program. He also mentioned that Israel supported the diplomatic efforts. As of Monday, the White House had not revealed a signed agreement, and detailed terms or a formal timetable remained undisclosed.
Iranian officials did not confirm Trump’s statement that Tehran had requested Washington to halt the planned strike. Iranian Foreign Minister Abbas Araqchi indicated that negotiations with Oman regarding navigation routes were nearing their final stages. Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, added that these 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.
The timing of the announcement came after a phone call between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi Arabia stated that during the conversation, the crown prince emphasized the importance of dialogue and lowering regional tensions. Previously, Trump named Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the negotiations. The U.S. did not publish a definitive schedule for the talks. Saudi Arabia continues to endorse direct diplomatic engagement between Washington and Tehran.
Diplomatic talks address nuclear issues and maritime tensions
Military actions against Iran by the United States and Israel began on February 28, targeting Iranian missile sites and nuclear facilities, according to U.S. officials. A temporary ceasefire was implemented in June, halting hostilities temporarily, but the agreement ultimately broke down, and military operations resumed. Iran denies seeking nuclear weapons but defends its right to civilian nuclear technology, dismissing claims to the contrary.
The Strait of Hormuz remains a vital element in ongoing negotiations because it transports a significant portion of global energy exports. Prior to the conflict escalation, approximately 20% of worldwide oil and liquefied natural gas moved through this waterway. Iranian restrictions have diminished tanker traffic, raising transportation costs. Recent incidents near Oman have also raised security concerns, including a projectile damaging a tanker’s engine room, though no casualties were reported during the weekend events, according to officials.
Oil prices decline following diplomatic developments
Oil prices experienced a sharp decrease on Monday after Trump announced that the planned U.S. military strike would be called off under the terms of the deal. Brent crude dropped by $4.49, or 5.1%, trading at $83.44 a barrel early in the day. U.S. West Texas Intermediate also fell by $4.90, or 5.8%, reaching $79.77. Both benchmarks had surged more than 20% during July. Additionally, OPEC+ approved an increase of roughly 188,000 barrels per day for September.
No conclusive agreement on nuclear, maritime, or security issues had been finalized by early Monday. Trump linked the delay of the strike to the swift completion of a diplomatic deal. Iran maintained its negotiations with Oman while remaining on military alert. Israel stated it was maintaining close security cooperation with the United States. The negotiations focus on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.