WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel an impending attack on Iran if negotiators managed to reach a swift agreement. He explained that the proposed deal must include reopening the Strait of Hormuz and addressing Iran’s nuclear activities. Trump also noted that Israel supports efforts to finalize the arrangement. This declaration brought an end to the preparations for another round of U.S. military strikes. As of Monday morning, officials had not released a signed agreement or detailed terms.
Tehran did not confirm Trump’s claim that Iran had requested the United States to halt the attack. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman regarding navigation routes had reached their final stages. According to Foreign Ministry spokesperson Esmaeil Baghaei, discussions centered on a new route through the waterway, separating those talks from any decisions to fully open or close the strait. Iran’s armed forces remain on alert following the U.S. announcement.
Following a phone conversation with Saudi Crown Prince Mohammed bin Salman, Trump made the announcement. Saudi Arabia reported that the crown prince had emphasized dialogue and reducing regional tensions during their discussion. Earlier, Trump had identified Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as key participants in the diplomatic efforts. The White House has not disclosed a timetable for completing these negotiations. Saudi Arabia continues to support the ongoing talks between Washington and Tehran.
Negotiations center on nuclear and maritime concerns
Since February 28, the United States and Israel have initiated strikes targeting Iran’s missile capabilities and nuclear facilities. An interim deal in June halted hostilities temporarily, but the agreement later unraveled, leading to resumed military actions. Iran maintains it does not seek nuclear weapons and defends its right to develop civilian nuclear technology.
The Strait of Hormuz remains a key strategic issue as it transports a significant portion of global energy supplies. Prior to the conflict, roughly 20% of the world’s oil and liquefied natural gas transited through this route. Iran has limited much of this traffic, slowing tanker movements and increasing shipping expenses. Maritime authorities have reported several recent security incidents near Oman, including one projectile damaging a tanker’s engine room, though no casualties were reported during the weekend incidents.
Oil prices decline following attack suspension announcement
Oil prices dropped sharply on Monday after Trump declared the suspension of the planned U.S. attack. Brent crude decreased by $4.49, or 5.1%, settling at $83.44 per barrel during early trading. U.S. West Texas Intermediate fell by $4.90, or 5.8%, to $79.77 per barrel. Both benchmarks had surged more than 20% in July amid intensified fighting near key shipping lanes. Additionally, OPEC+ approved a production increase of roughly 188,000 barrels per day starting in September.
As of early Monday, no definitive nuclear, shipping, or security agreement had been finalized. Trump canceled the planned strike conditional upon the swift completion of negotiations. Iran continued talks with Oman while keeping its military on high alert. Israel stated it remains in close security coordination with the United States. These discussions involve access through the Strait of Hormuz, Iran’s nuclear program, and the cessation of the five-month conflict.
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