Trump's Iran Diplomacy Sends Oil Prices Tumbling Amid Regional Pressure
US President Donald Trump has announced that diplomatic talks with Iran will begin in the coming hours. The decision has sent oil prices plummeting, with Brent Crude falling 4.5% to $83.98 per barrel and US-traded oil dropping 4.6% to $80.74 per barrel.
The negotiations come after Trump revealed he had scrapped plans for 'massive' strikes against Iran, suggesting Tehran understood the scale of the threatened assault. The President credited regional partners, including Saudi Arabia's Crown Prince Mohammed Bin Salman and leaders in the United Arab Emirates and Qatar, with helping to avert an immediate escalation.
Trump declined to set a deadline for reaching a final agreement with Tehran, stating 'we'll just see how it is.' He also acknowledged that Iran had asked him to 'hold off' on any military operation, as claimed in his earlier Truth Social post.