Iran says "ball is in the U.S. court" on any deal to end the war
Trump must decide whether to end the war or return to it, Iran says, as both sides trade threats, but keep diplomacy alive.
Key points
- Trump said a deal with Tehran "could happen" and that Iran wants a settlement soon.
- Iran said intensive exchanges were underway and offered to reopen the Strait of Hormuz under strict conditions.
- Oil prices fell more than 7% on Monday amid optimism over a possible end to the eight-month conflict.
President Trump said on Monday that a deal with Iran "could happen," signaling progress in talks aimed at avoiding a return to war. In a post on his Truth Social platform, a day before crucial midterm elections, he added that "Iran wants a settlement, as soon as possible."
Tehran said "intensive" exchanges were underway and offered to reopen the Strait of Hormuz under strict conditions. Vice President JD Vance told reporters on Monday that he and Trump were optimistic about securing an agreement, saying "We've certainly made some progress. We'll see if we can make some more."
Oil prices plunge on optimism
Oil prices, which had been sent rocketing by Iran's blockade of the Strait of Hormuz energy corridor, plunged by more than 7% on Monday. The drop came on optimism over a possible end to the eight-month-old conflict. Trump also pointed to the falling oil prices in his social media post.
We've certainly made some progress. We'll see if we can make some more.
— Vice President JD Vance
