Trump signals Iran settlement while tensions remain high
Trump signals progress in talks as Iran offers to reopen the Strait of Hormuz if the US lifts its blockade.
President Trump says Washington and Tehran are moving toward a deal. Hours earlier he had demanded Iran's complete economic isolation.
A senior Iranian official offered that Iran would reopen the Strait of Hormuz in seven days if the US lifted its military blockade on Iranian ports. Hormuz carries roughly one-fifth of the world's oil and gas.
Conflict had blocked it seven months ago. Trump gave no details on the talks.
He acknowledged no face-to-face meetings have happened since July. An interim deal collapsed then, weeks after being signed.
Iran's Parliament Speaker pushed back. He said Iran will never surrender to Trump's pressure.
Trump expects a deal will come after November's midterm elections. Gulf Arab states including Bahrain, Kuwait, Qatar, Oman, Saudi Arabia, and the UAE are watching closely.
They want shipping through Hormuz restored. But they worry Iran might gain too much power.
- One-fifth of world oil and gas
- Hormuz blocks global trade
- Seven months
- Blockade duration
- Seven
- Days to reopen Hormuz
- Six countries
- Gulf Arab states watching
Why it mattersIf Hormuz reopens, global oil prices could drop sharply. This would ease energy costs for consumers and businesses worldwide.
AustraliaAustralia's energy bills, shipping costs, and inflation are all exposed to Middle East oil prices; a breakthrough could ease pressure on petrol, electricity, and goods prices.
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