US President Donald Trump said on Truth Social that a deal with Iran could happen, after Tehran disclosed that it was holding indirect negotiations with Washington. Oil prices fell sharply on the news, and Trump credited the drop to the prospect that there would be no war with Iran.
Oil reacts to diplomacy
Trump said oil prices were plunging, by almost 10 dollars a barrel, which he described as a record. Brent crude futures for January delivery fell 7.6 percent, a loss of 8.6 dollars a barrel. The January contract settled at 104 dollars a barrel on ICE in London.
Trump wrote that Iran wants a deal as quickly as possible. Iran’s government had disclosed the indirect contacts as an attempt to find a diplomatic way out of the conflict.
Vance points to progress
Vice President JD Vance said he and the president felt quite confident about the prospect of a negotiated agreement. He said the two sides had made some progress, and added that the aim was to see whether they could go further.
Vance did not detail the points discussed. Qatar is among the international mediators involved in the talks.
Sticking points remain
Key disagreements include Iran’s nuclear programme, US economic sanctions and the conditions for reopening the Strait of Hormuz. Iran conditions reopening the strait on economic and military demands, including relief from US sanctions.
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