Commodities
Trump Signals Diplomacy with Iran as Hormuz Talks Continue
US President Donald Trump has signaled a desire to engage in diplomacy with Iran, seeking to avoid further escalation in the ongoing conflict. In an interview with Fox News on Tuesday, Trump stated that he would prefer not to bomb Iran's major bridges if a deal can be reached.
The comments came four days after the US ended roughly two weeks of strikes on the Islamic Republic following a breakdown in peace negotiations over the Strait of Hormuz. The focus has since turned to talks between Iran and Oman, with Omani officials hoping to announce progress in the next few days.
Brent crude oil prices have slumped to $86 a barrel since the sides paused skirmishes on Friday, easing pressure on Trump ahead of the US midterm elections in November.