In brief
In a dramatic Oval Office briefing, President Donald Trump said a settlement to end the Iran war is almost signable and that U.S. strikes against Iranian targets have been halted. Tehran’s foreign ministry spokesperson, Esmail Baghaei, dismissed the claims as speculative, stating no deal has been finalised. The declaration came as Brent crude fell nearly 5 % to about $89 a barrel amid heightened tensions. Meanwhile, Iran warned that any further strikes on its oil infrastructure could trigger a harsher retaliation.
President Donald Trump told reporters in the Oval Office that a settlement to end the war with Iran is "very close" and that the United States would not hit the country again. He said he had cancelled recent strikes and that the papers were "pretty final shape" and would be signed within a short time frame.
In Tehran, foreign minister spokesperson Esmail Baghaei took a different stance, calling the report of a deal "speculative" and saying that no agreement has been finalised. He noted that the U.S. had made excessive demands and added new requests.
The announcement came amid a back‑and‑forth of air and missile strikes between the U.S. and Iran, involving naval vessels around Kharg Island and an Iranian drone attack on an American base in Bahrain that injured a child. The United States had also said it would seize key Iranian oil sites should the conflict intensify.
Brent crude prices fell about 4.4 % to roughly $89 a barrel as market participants reacted to the prospect of a deal, despite the continuing strike cycle. In reply, Iran warned that further U.S. attacks on its oil infrastructure could provoke a more severe retaliation.
Global leaders have called for de‑escalation, with the United Nations Secretary‑General, Pakistan, Russia, China, Turkey, India and Saudi Arabia all urging a return to the cease‑fire and cautioning against further deterioration.
