President Donald Trump announced Monday that he is postponing a planned military strike on Iran, citing ongoing negotiations that may resolve the conflict without resorting to attacks.
Pause for Talks
Speaking at the White House, Trump said, “There seems to be a very good chance that they can work something out. If we can do that without bombing the hell out of them, I’d be very happy.” He confirmed that a major strike had been planned for Tuesday but was delayed at the request of Gulf allies, including Qatar, Saudi Arabia, and the United Arab Emirates.
The president noted that talks with Iran appeared more promising this time, although he acknowledged that previous negotiations had failed to produce results.
Background on the Conflict
Trump has repeatedly threatened military action, warning that the ceasefire reached in mid-April could collapse if Iran did not agree to terms. The situation escalated after drone attacks from Iran and allied militias targeted Gulf Arab states. The UAE reported a recent drone strike near its nuclear power plant, described as “unprovoked.”
Trump has also consulted with Israeli Prime Minister Benjamin Netanyahu and Chinese President Xi Jinping about the conflict.
Impact on Oil Markets
Trump’s announcement immediately affected global oil prices. Petroleum futures fell by more than $2 per barrel, from $108.83 to $107.25, after the news of negotiations was released.
Iranian state media labelled the delay as a “retreat” and claimed it was driven by fear, though they reported that local defence systems on Qeshm Island in the Strait of Hormuz remained active and “under control.”
Key Issues in Negotiations
A major concern remains keeping the Strait of Hormuz open, a vital route for oil, gas, and other products. Turkey’s Foreign Minister Hakan Fidan said negotiations also focus on Iran’s nuclear program, including enriched uranium reportedly buried under tunnels damaged during U.S. and Israeli attacks in June.
Iran has reportedly included some nuclear concessions in its latest proposal, but Trump dismissed them as “garbage.” Lack of trust has been cited by Iran as a key barrier to progress.
Fidan emphasised that Iran appears willing to comply with nuclear requirements in principle, but details regarding conditions and order of concessions remain unresolved.
