US and Iran signal progress in talks as oil plunges on peace hopes

· Politics · United States · Iran

The United States and Iran signalled on Monday that indirect negotiations to avert a renewed war were advancing. Iranian Foreign Minister Abbas Araghchi said talks were taking place via mediators, and Tehran described them as "intensive", saying it could reopen the Strait of Hormuz within two days if Washington accepts its demands, including a new transit route agreed with Oman. President Donald Trump wrote on Truth Social that a deal "could happen", while also saying the US could strike remaining targets "in 10 minutes". Iran's supreme leader has reportedly given the government more authority to negotiate, and President Masoud Pezeshkian confirmed that. Brent crude fell more than 6% to as low as $105.55 a barrel on the hopes, and oil held losses in Asian trading.

Why it matters：A deal would reopen the world's most important oil chokepoint and lower global energy costs, but both sides are still preparing for strikes, keeping markets and Gulf states on edge.

Key points

  • Iran says it has a two-day plan to reopen the Strait of Hormuz and resume nuclear talks.
  • Trump set the demand that Iran not possess a nuclear weapon as his bottom line.
  • Israeli Prime Minister Benjamin Netanyahu said he wants to "finish the job" first.

Sources (original reporting)

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