- Trump signals ongoing negotiations with Iran, despite public friction.
- Talks focus on nuclear constraints, sanctions relief, and Hormuz governance.
- Markets remain volatile as deal terms remain unclear.
Diplomacy in flux
President Donald Trump said Thursday that the U.S. is still working on a deal with Iran, pushing back against reports that talks have stalled. “We’re making progress,” Trump told reporters, though he offered no specific timeline. The comments come after weeks of indirect negotiations mediated by Oman, where both sides have traded proposals on enrichment limits and sanctions relief.
According to people familiar with the matter, the talks have hit a snag over verification mechanisms. Iran insists on preserving some civilian enrichment capability, while the U.S. demands verifiable dismantling of nuclear capacity. Without a deal, the risk of renewed tensions in the Strait of Hormuz could spike, analysts say.
Markets on edge
Oil prices have swung on every headline. Brent crude fell 1.2% on the news, as traders weighed the possibility of eased sanctions. “Any deal that unlocks Iranian oil exports would be a game-changer for global supply,” said a senior energy analyst. But the path forward remains uncertain—officials caution that final terms are still being negotiated.
“We’ve been here before,” said a former U.S. diplomat. “The devil is in the details.”
What comes next
Both sides have signaled a willingness to continue talks, but deadlines are looming. Iran has accelerated its enrichment program in recent months, raising the stakes. A breakthrough could unlock billions in frozen assets and ease regional tensions, while failure could trigger a new round of sanctions or even conflict.
“Trust is in short supply,” said an Iranian official, speaking on condition of anonymity. “But no one wants war.”
This is a developing story. We will update as new information becomes available.