WASHINGTON, D.C. / RankWire.AI / – President Donald Trump indicated that the U.S. would halt plans for an attack on Iran if negotiators quickly reached an agreement. He emphasized that the deal needed to reopen the Strait of Hormuz and address Iran’s nuclear program. Trump also mentioned that Israel supported efforts to finalize the deal. This statement effectively paused ongoing preparations for another round of U.S. military strikes, with officials not having released a signed agreement or detailed terms as of Monday morning.
Iran did not confirm Trump’s statement that Tehran had asked Washington to cease the attack. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman over navigation routes had reached their final stages. Esmaeil Baghaei, a Foreign Ministry spokesperson, indicated the discussions focused on a new route through the waterway, distancing those talks from decisions about fully opening or closing the strait. Meanwhile, Iran’s armed forces remained on alert following the U.S. announcement.
Following a phone call with Saudi Crown Prince Mohammed bin Salman, Trump announced that the prince urged for dialogue and lower regional tensions. Earlier, Trump had named Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the diplomatic efforts. The White House has not provided a timeline for concluding the negotiations. Saudi Arabia continues to back negotiations between Washington and Tehran.
Negotiations center on nuclear and maritime issues
Strikes against Iran by the United States and Israel began on February 28, targeting Iranian missile capabilities and nuclear facilities, according to official reports. A temporary ceasefire was established in June through an interim agreement, but subsequent breakdowns led to resumed military activity. Iran maintains it does not seek nuclear weapons, defending its right to pursue civilian nuclear technology.
The Strait of Hormuz remains a critical point of concern because it handles a significant portion of global energy shipments. Prior to the conflict escalation, roughly one-fifth of worldwide oil and liquefied natural gas transited through this route. Iran’s restrictions have slowed tanker traffic and increased shipping expenses. Recent security incidents have been reported near Oman, including one projectile damaging a tanker’s engine room, though no casualties were reported over the weekend, according to maritime authorities.
Oil prices decline following military de-escalation signals
Oil prices experienced a sharp drop on Monday after Trump announced the suspension of the planned U.S. attack. Brent crude fell by $4.49, or 5.1%, to $83.44 per barrel during early trading, while U.S. West Texas Intermediate declined by $4.90, or 5.8%, reaching $79.77 per barrel. Both benchmarks had surged over 20% in July amid intensified fighting near vital shipping lanes. Additionally, OPEC+ approved an increase in September production of approximately 188,000 barrels daily.
As of early Monday, no finalized agreement had been achieved regarding nuclear issues, shipping, or security arrangements. Trump conditioned the cancellation of the planned strike on negotiators securing a rapid deal. Iran continued discussions with Oman and maintained its military preparedness. Israel stated it remains in close security coordination with the United States. The ongoing talks address access through the Strait of Hormuz, Iran’s nuclear program, and an end to the five-month conflict.