WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would halt an attack on Iran if negotiators quickly reached an agreement. He emphasized that the deal should reopen the Strait of Hormuz and address Iran’s nuclear activities. Trump also stated that Israel supported efforts to finalize the arrangement. His declaration brought an end to preparations for another U.S. strike. As of Monday morning, officials had not released a signed agreement or detailed terms.
Iran did not verify Trump’s statement that Tehran had asked Washington to stop the attack. Iranian Foreign Minister Abbas Araqchi said negotiations with Oman over navigation routes were in their final phase. Esmaeil Baghaei, a Foreign Ministry spokesperson, explained that discussions focused on a new waterway route. He clarified these talks were separate from decisions on fully opening or closing the strait. Iran’s armed forces remain on alert following the U.S. announcement.
Trump’s comments came after a phone call with Saudi Crown Prince Mohammed bin Salman. Saudi Arabia reported that the crown prince urged dialogue and regional stability during their discussion. Trump previously named Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as key participants in diplomatic efforts. The White House did not specify a timeline for completing negotiations. Saudi Arabia continues to support talks between Washington and Tehran.
Focus on nuclear and maritime issues in negotiations
The U.S. and Israel launched strikes against Iran on February 28. Washington claimed the attacks targeted Iranian missile sites and nuclear facilities. An interim deal in June paused hostilities temporarily. Later, the agreement failed, and military action resumed. Iran denies seeking nuclear weapons and insists its nuclear program is solely for civilian purposes.
The Strait of Hormuz remains a key concern because it handles a significant share of the world’s energy supplies. Before conflict escalated, roughly 20% of global oil and liquefied natural gas moved through the route. Iran has restricted much of this traffic, slowing tanker passage and increasing shipping costs. Recent security incidents near Oman have been reported by maritime authorities. One projectile hit a tanker’s engine room, but no casualties were reported over the weekend.
Oil prices decline following attack suspension announcement
Oil prices fell sharply on Monday after Trump declared the planned U.S. attack off. Brent crude decreased by $4.49, or 5.1%, to $83.44 per barrel in early trading. U.S. West Texas Intermediate dropped $4.90, or 5.8%, to $79.77 per barrel. Both benchmarks had surged more than 20% in July amid escalating fighting near vital shipping routes. OPEC+ also approved a September increase of about 188,000 barrels per day in production.
By early Monday, no final agreement on nuclear, shipping, or security issues had been reached. Trump canceled the strike on the condition that negotiators finalize a deal quickly. Iran maintained its military readiness while continuing discussions with Oman. Israel stated it remains closely coordinated with the United States on security matters. The negotiations focus on access through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.