President Donald Trump says he is deciding whether to make a deal with Iran or resume military action. Regional mediators are pushing talks in Tehran, while the Strait of Hormuz remains a flashpoint that keeps pressure on energy markets.
U.S. President Donald Trump said he was deciding whether to make a deal with Iran or finish it off as investors weigh heightened tensions across the Middle East. In a Fox News interview on Sunday, Trump said: "It’s getting to be decision time".
Strikes paused until after the midterms
The last confirmed U.S. strikes on Iran were on Sept. 1. Trump previously said strikes would not resume until after the Nov. 3 midterm elections. Meanwhile, Tehran says it is preparing a military response to any U.S. attacks.
Trump said in the interview that a potential U.S. target could be Pickaxe Mountain, a deeply buried site linked to Iran's nuclear program. He also said the other three nuclear sites are obliterated.
Hormuz stays a flashpoint for energy prices
Trump repeated the claim that the U.S. controls the Strait of Hormuz, citing crude oil flows that have returned to pre-war levels. However, energy prices remain elevated amid the disruption and a global refining squeeze. Washington and Tehran have both repeatedly claimed they control the route, where overall trade flows remain severely curtailed, according to CNBC.
Earlier this month, a Singapore-flagged container ship sank in the strait after an unidentified projectile struck it and it caught fire.
Regional powers seek talks in Tehran
Mediators from Qatar visited Tehran on Sunday, per Reuters. Separately, senior officials from Saudi Arabia, Turkey and Pakistan are meeting Iran's leadership in Tehran on Monday. It is the first meeting of the group since Houthi missiles and drones targeted sites across Saudi Arabia, including Riyadh airport and an administrative building belonging to Saudi Aramco.
The three countries signed the Makkah Joint Defence Agreement in August, which stipulates that an armed attack against one member would be regarded as an attack against all. Saudi Arabia last week postponed its flagship Future Investment Initiative conference until 2027 due to security concerns after a string of fatal strikes.
Source: CNBC
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