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Commodities

Trump Puts Iran War on Hold for New Talks Amid Ongoing Conflict

Guavy AI Editorial Team
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US President Donald Trump announced on Sunday that new negotiations with Iran will begin 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 talks will cover the Strait of Hormuz, a route for global energy supplies that has become a key sticking point in the conflict, and ultimately, the denuclearization of Iran.

Oil prices fell on Monday at the opening of Asian trade after Trump announced the new negotiations, with the price of a barrel of Brent North Sea, the benchmark international oil contract, for September delivery down 4.69 percent at $83.81.

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