WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel a planned strike on Iran if negotiators managed to reach an agreement swiftly. Trump emphasized that the deal needed to include reopening the Strait of Hormuz and addressing Iran’s nuclear activities. He also mentioned that Israel supported the diplomatic process. As of Monday, the White House had not disclosed a signed deal, and specific terms or a formal timetable remained unavailable.
Iran did not confirm Trump’s assertion that Tehran had asked Washington to stop the impending attack. Iranian Foreign Minister Abbas Araqchi stated negotiations with Oman over navigation routes were in their final stages. Foreign Ministry spokesperson Esmaeil Baghaei added that discussions involved a new route through the waterway, separate from any decision to fully reopen Hormuz. Meanwhile, Iran has kept its armed forces on high alert.
This announcement followed a phone call between Trump and Saudi Crown Prince Mohammed bin Salman, during which Saudi officials said the crown prince emphasized dialogue and reducing regional tensions. Trump listed Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the talks, although no official schedule had been issued by Washington. Saudi Arabia continues to support direct diplomatic talks between the United States and Iran.
Diplomatic negotiations involve nuclear and maritime issues
Since February 28, the United States and Israel have launched military operations against Iran, targeting missile capabilities and nuclear sites, according to Washington. A temporary ceasefire paused hostilities during June, but this agreement later fell apart, resuming military activity. Iran denies allegations of seeking nuclear weapons, asserting its right to civilian nuclear technology while rejecting claims to the contrary.
The Strait of Hormuz remains central to ongoing negotiations due to its significance for global energy supplies; approximately 20% of worldwide oil and liquefied natural gas shipments passed through it before the conflict. Iranian restrictions have curtailed tanker traffic, leading to higher transportation costs, and recent security incidents near Oman have been reported—one projectile damaged a tanker’s engine room, though no casualties were reported during the weekend events.
Oil prices decline after U.S. announcement
Oil prices sharply declined on Monday after Trump stated that the planned U.S. attack would not proceed if an agreement was reached. Brent crude fell by $4.49, or 5.1%, trading at $83.44 per barrel in early trading, while U.S. West Texas Intermediate dropped $4.90, or 5.8%, to $79.77. Both benchmarks had increased by over 20% in July. Additionally, OPEC+ approved a production increase of approximately 188,000 barrels per day for September.
No definitive nuclear, maritime, or security agreement had been finalized by early Monday. Trump linked the cancellation of the strike to the swift completion of an agreement. Meanwhile, Iran continued discussions with Oman and maintained military preparedness. Israel stated it remained in close security coordination with the United States. Negotiations continue to focus on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.