Donald Trump aboard Air Force One returning to Washington from New Jersey, where he announced new negotiations with Iran would begin Monday.
3 August 2026 | Washington, Tehran, Muscat — Updated 23:15 GMT
US President Donald Trump said that new negotiations with Iran will begin on Monday after he decided to hold off on striking the Islamic republic to pursue a deal to end the war entering its sixth month.
The US president did not provide details of where Monday meeting would take place or who would be involved. Donald Trump said talks with Iran will happen on Monday but declined to set a deadline for an agreement after earlier saying he had called off an imminent attack in the hope of quickly reaching a deal to reopen the strait of Hormuz and resolve the impasse over Tehran's nuclear capabilities.
For its part, Iran said it was nearing a deal with Oman over a new route through the strait of Hormuz, where a tanker reported an explosion nearby on Sunday, underscoring the continued volatility of the strategic waterway. The United Kingdom Maritime Trade Operations (UKMTO) Centre reported that the vessel and crew were all safe.
Welcome to the latest news — where diplomacy, oil prices, and war strategy collide in the Gulf.
🌍 IRAN TALKS — KEY NUMBERS: Trump calls off imminent strike • Iran-Oman deal nearing completion • Oil drops 4% to $83/barrel • War enters 6th month • 20% of world's oil passed through Hormuz before war • Qatar, UAE, Saudi Arabia urged deal over attack • Trump: "They said we would much prefer a deal."
Trump Holds Off on Strikes, Announces Monday Negotiations with Iran
On Saturday night, the US president claimed on social media that Iran and other Middle Eastern countries had asked for time to complete a deal that would lead to "the immediate, complete and total" reopening of the strait and "an end to Iran's nuclear threat". Trump added that Tehran must "rapidly make a deal".
On Sunday, aboard Air Force One, Trump told reporters he decided to hold off on ordering American forces to carry out new strikes against Iran at the urging of Gulf allies Qatar, the United Arab Emirates and Saudi Arabia, including a phone call with Crown Prince Mohammed bin Salman.
— Donald Trump, aboard Air Force One
As he returned to Washington from a weekend in New Jersey, Trump said that a negotiation would begin on Monday afternoon but did not provide details of where it would take place or who would be involved.
Asked if there was a deadline for Iran to come to an agreement, Trump declined to answer.
Iran Says Deal with Oman Nearing Finalization for New Strait Route
Iranian foreign ministry spokesperson Esmaeil Baqaei told state television on Sunday that a deal was close with Oman, which sits on the other side of the strait, over a new route through the waterway. "We are now going to reach an understanding on a route acceptable to both sides – neither the northern route nor the southern route – but one that respects the sovereign rights of both sides and safeguards our national interests and security," he said in an interview.
However, he insisted that such an agreement did not mean the reopening of the strait and that it "will in no way return to the status it was before February 28th", the day the war started.
— Esmaeil Baqaei, Iranian Foreign Ministry Spokesperson
Earlier, the IRNA state news agency quoted foreign minister Abbas Araghchi as saying that negotiations with Oman "were on track for finalisation and were going through their final stages", without providing further details.
Oman did not immediately comment on the matter.
Oil Prices Drop 4% as Markets React to Trump's Announcement
Oil prices fell on Monday at the opening of Asian trade after Trump's announcement, with Brent crude dropping more than 4% to about $83 per barrel.
Trump has repeatedly issued threats that he would escalate the war on Iran, only to allow more time for talks, which have so far not led to a comprehensive deal. Trump's apparent de-escalation after days of threats of new attacks from each side was the latest twist in the war.
Attacks have spread across the Gulf to the Red Sea and even a Mediterranean facility in Egypt. Iran has largely closed the strait of Hormuz, a conduit for 20% of the world's oil and liquefied natural gas before the start of the war, causing energy prices to rise and stoking broader inflation.
Trump has argued that his stated goal of keeping Iran from gaining nuclear weapons justifies higher fuel costs in the near term, but the economic pain has put political pressure on him to find a way to end the conflict.
🛢️ OIL & SHIPPING — KEY NUMBERS
- Oil price drop: 4% to ~$83/barrel
- Hormuz pre-war share: 20% of world's oil & LNG
- War duration: 6 months (since 28 Feb 2026)
- Shipping: Traffic slowed after attack reports
- Bab el-Mandeb: Saudi tankers crossed despite Houthi threats
- UKMTO: Vessel and crew safe after explosion nearby
Gulf Allies Urge Diplomacy as Iran Engages Region
Araghchi held phone calls with his Saudi counterpart, Prince Faisal bin Farhan, and Pakistan's army chief, Asim Munir, to discuss diplomatic efforts, Iran's state media reported on Sunday.
Eli Cohen, Israel's energy minister, said there was close security and intelligence coordination between Israel and the US on everything happening in the region.
— Eli Cohen, Israeli Energy Minister
Trump and Netanyahu met on Tuesday in Washington, with an Israeli official saying they had explored all possible paths to curb Iran's nuclear program, including diplomacy, economic pressure and force. Tehran denies it is seeking a nuclear weapon.
🌍 IRAN TALKS: THE NUMBERS THAT DEFINE THE MOMENT
🕊️ IRAN TALKS AT A GLANCE
Talks begin
Months of war
Oil pre-war share
Oil price/barrel
🗣️ KEY VOICES
Donald Trump:
"They said we would much prefer a deal as opposed to an attack, because you don't know where these attacks lead."
Esmaeil Baqaei (Iran):
"We are now going to reach an understanding on a route acceptable to both sides."
Eli Cohen (Israel):
"If Iran attempts to renew its nuclear programme, we will take action, and we will strike."
📞 DIPLOMATIC EFFORTS
🚢 MARITIME INCIDENTS
🕊️ THE FINAL VERDICT: DIPLOMACY, OIL, AND WAR STRATEGY
✅ WHAT'S HAPPENING:
- Trump announces Monday talks with Iran
- Iran and Oman near deal on new strait route
- Oil drops 4% to $83/barrel
- Gulf allies urged diplomacy over attack
- Trump: "They said we would much prefer a deal"
⚠️ THE CHALLENGES:
- War enters 6th month with no comprehensive deal
- Iran says strait will not return to pre-war status
- Israel warns it will strike if Iran advances nuclear program
- Trump declines to set deadline for agreement
- Attacks spread across Gulf, Red Sea, Egypt
- Economic pressure mounts on Trump
"They said we would much prefer a deal as opposed to an attack, because you don't know where these attacks lead," Trump said aboard Air Force One, announcing Monday talks with Iran. Iran and Oman are nearing a deal on a new route through the Strait of Hormuz, but Tehran insists the waterway "will in no way return to the status it was before February 28th." Oil dropped 4% to $83 a barrel as markets reacted to the diplomatic opening. Israel warned: "If Iran attempts to renew its nuclear programme, we will strike." War, diplomacy, and oil prices collide as the world watches.
— News Analysis
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