A renewed framework for a potential Iran nuclear agreement is taking shape after talks in Tehran involving Qatari mediators. A source briefed on the discussions described the meeting as “positive talks.” The United States and Iran are separately reviewing the latest proposals from mediators, which are intended to bring both sides closer to a new agreement.
The diplomatic development came shortly after President Donald Trump posted about Iran on Truth Social Monday afternoon. “Oil Prices are DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD, because people feel that there will not be a War with Iran. Iran wants a settlement, as soon as possible. It could happen! President DONALD J. TRUMP,” he wrote.
Oil prices fell 7% on Monday, CNBC reported, marking their steepest single-day decline since July. The drop followed news that the United States and Iran had resumed discussions.
Speaking to reporters, President Trump said Iran wants to “make a deal and that could happen,” reiterating his pledge not to attack the troubled country ahead of Tuesday’s midterm election.
The military blockade in the Strait of Hormuz, combined with the U.S. Treasury Department’s Operation Economic Outcast, has placed severe pressure on Iran’s economy. The campaign has targeted the country’s banking infrastructure and curtailed the operations of its shadow fleet of oil tankers.
U.S. CENTCOM Commander Adm. Brad Cooper said in an Oct. 30 post on X that he had recently visited the region and observed commercial vessels traveling safely through the Strait of Hormuz. Cooper said the IRGC was no longer patrolling the waterway, as it had for decades, because Iran’s Navy was at the bottom of the sea. He also said Gulf partners had helped export 1.5 billion barrels of oil since the summer.
