WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would halt a planned attack on Iran if negotiators quickly finalized an agreement. The president emphasized that the deal should reopen the Strait of Hormuz and address Iran’s nuclear program, with Israel backing the diplomatic efforts. As of Monday, the White House had not confirmed the signing of any agreement, and specific terms or a formal timeline were still unavailable.
Iran denied Trump’s statement that Tehran had requested Washington to stop the impending strike. Iranian Foreign Minister Abbas Araqchi indicated that negotiations with Oman regarding navigation routes were nearing their conclusion. Esmaeil Baghaei, a spokesperson for Iran’s Foreign Ministry, explained that discussions involved a new route through the waterway and remained separate from any decision to fully reopen Hormuz. Iran also kept its armed forces on alert.
This announcement came after a phone call between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi Arabia reported that the crown prince highlighted the importance of dialogue and reducing regional tensions during the conversation. Trump mentioned that Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio were involved in the negotiations. No definitive schedule for the talks had been issued by Washington. Saudi Arabia continues to support direct diplomatic negotiations between the United States and Iran.
Discussions focus on nuclear issues and maritime navigation
The United States and Israel launched military operations against Iran on February 28, targeting missile capabilities and nuclear sites, according to officials. A temporary ceasefire was observed during June, but the agreement later disintegrated, leading to resumed military activity. Iran rejects allegations of pursuing nuclear weapons while asserting its right to civilian nuclear technology.
The Strait of Hormuz remains central to ongoing negotiations because it is vital for global energy supplies. Before the conflict, roughly 20% of worldwide oil and liquefied natural gas shipments traveled through the channel. Iran’s restrictions have reduced tanker traffic, raising transport costs. Recent incidents near Oman include a projectile damaging a tanker’s engine room, although officials reported no casualties during the weekend events. Several security concerns have been recorded in recent days.
Oil prices decline after announcement of deal delay
Oil prices dropped significantly on Monday following Trump’s statement that the U.S. attack would not proceed under the proposed agreement. Brent crude decreased by $4.49, or 5.1%, and was traded at $83.44 a barrel early in the day. U.S. West Texas Intermediate declined by $4.90, or 5.8%, to $79.77. Both benchmarks had increased by over 20% throughout July. Additionally, OPEC+ approved a production increase of approximately 188,000 barrels per day for September.
As of early Monday, no conclusive nuclear, maritime, or security agreement had been reached. Trump linked the cancellation of the planned strike to the swift conclusion of an agreement. Iran continued discussions with Oman while maintaining military preparedness. Israel reported ongoing close security coordination with the United States. The negotiations are centered on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.