In brief
In a surprising turn, President Trump announced Monday's start of diplomacy with Iran, canceling a massive strike that could have escalated the ongoing conflict. The president’s remarks come after he reassured that the US remains "ready to go" but now prefers a negotiated settlement. Middle‑East allies urged restraint, citing potential deals over the Strait of Hormuz and nuclear talks. Oil prices slumped on the news, with Brent Crude falling 4.5% to $83.98. Iran’s response remains muted, while geopolitical tensions linger as the US, Saudi Arabia, UAE, and Qatar weigh the implications of the cease‑fire.
On Air Force One, the president announced that the U.S. has cancelled upcoming strikes on Iran and will instead begin official negotiations tomorrow afternoon.
“They knew the extent of the attack because they saw it forming,” Trump said. “We’re talking to them in the form of a negotiation. It begins tomorrow afternoon.”
Trump also highlighted that request from Iran and U.S. allies in the Middle East to hold off, citing that portions of a deal had been agreed. He noted that the plan would not be fait; “I’m not looking to kill people.”
Iran has yet to respond to the remarks, while Saudi Arabia’s Crown Prince Mohammed Bin Salman and partners in the UAE and Qatar urged restraint over the weekend. Trump said the “reason they asked is that they think there’s a deal” and referenced potential agreements on the Strait of Hormuz and nuclear issues.
Oil markets reacted sharply: Brent Crude fell 4.5% to $83.98 and U.S. traded oil dipped 4.6% to $80.74. The price slide followed the Trump announcement, reflecting shock at the sudden shift in U.S. policy that could ease shipping through the Strait of Hormuz, which carries about 20% of global crude oil and LNG.
Earlier this week, Trump had warned Iran of a possible large-scale strike, describing it as “the biggest attack since World War II.” The U.S. president’s latest comments suggest a pivot to diplomacy, though the venue and participants for Monday’s talks remain unknown.
International law experts caution that strikes on Iranian energy infrastructure could constitute a war crime. Iran’s defense ministry, meanwhile, has warned that it views all threats as both real and credible, vowing it will not be caught off guard.
As the U.S. and its allies weigh their next steps, global oil markets and diplomatic channels remain on high alert.
