Trump warns Iran talks are ‘last chance’ to end war — oil prices rise as Tehran denies negotiations
In this article
- @CL.1
- @LCO.1
President Donald Trump has warned that the latest round of negotiations with Iran is the “last chance” to bring an end to the five-month conflict.
Read more Larry Berg named next Major League Soccer commissioner
Trump told reporters in the Oval Office late on Monday that talks are “going on right now,” at the request of Iran, Saudi Arabia, the United Arab Emirates, Qatar and others.
However, Tehran continues to deny that any direct negotiations with the U.S. are taking place — or that there are plans to hold them in the future.
Iran’s President Masoud Pezeshkian said on Tuesday that Tehran would continue to defend its borders but insisted it does not seek an expansion of the conflict, according to state media reports.
“This is a last chance for them to sign a good document,” Trump said.
In a Truth Social post earlier on Monday, Trump described Iran’s leaders as “unbelievably duplicitous” and accused them of lying about peace talks that are underway, “whether Iran wants to admit it or not.”
Iranian foreign ministry spokesperson Esmail Baghaei had again poured cold water on the notion of direct negotiations with the United States.
Baghaei told a press conference on Monday that there is no immediate plan for negotiations with the U.S., reiterating that Tehran is currently only engaged in talks with Oman regarding the Strait of Hormuz.
Read more Analysis: Federal Reserve may be pulled into Bessent’s effort to support Japan’s yen
It came after the president decided to call off “massive attacks” on Iran to allow for talks he said were starting on Monday.
The decision lifted market sentiment, with oil prices slumping in response.
Oil prices rebounded slightly early on Tuesday as traders became less confident that a diplomatic solution to the conflict, which has upended energy markets, is in sight.
West Texas Intermediate futures were up 1.29% at $81.38 per barrel as of 1:35 a.m. ET. Brent crude, the international benchmark, was up 1.73% at $85.23 a barrel.
Read more U.S.-Iran war news
- Trump insists Iran talks are underway despite Tehran’s ‘duplicitous’ denials
- Investors scored on Iran war’s oil market boom. Staying long the trade will get trickier
- What is Pickaxe Mountain, the Iranian nuclear facility Trump is threatening to strike?
- Ukraine strikes Iranian vessels in Caspian Sea, Tehran accuses Kyiv of ‘hostile and criminal act’
- Saudi military strikes Houthi targets in Yemen after Iran-backed militia attacked Red Sea shipping
- Tehran’s Hormuz threat risks global fallout, Rubio warns as U.S. strikes Iran for 11th straight night
- Iran says it attacked Amazon infrastructure in Bahrain
- U.S. strikes Iran and Houthis threaten Saudi Arabia shipping as mediators push 10-day ceasefire
- Oil exports through the Strait of Hormuz might not return to levels seen before the Iran war
- Strait of Hormuz shutdown: A visual guide to the world’s most critical oil chokepoint
- Oil markets are betting on a swift end to the Iran war. Investors may regret it
- The Middle East war is testing the Gulf’s ambitions to become an AI hub
- Analysis: An end to the Iran war may be just the beginning of a new era of U.S. inequality
- Why the confusion around the Iran situation could get worse. How to profit anyway
- Strait of Hormuz: Ships attacked as Trump extends Iran ceasefire
- Trump tells CNBC he expects U.S. to make ‘great deal’ with Iran
- More from CNBC Politics
U.S. Central Command said on Monday it had redirected 44 commercial vessels as part of its ongoing blockade of the Strait of Hormuz, having disabled two and boarded two.
Meanwhile, Iraqi pro-militia outlet Naya late on Monday reported an explosion in Kuwait overnight that could be heard in Basrah Province.
Read more Visa to buy cybersecurity firm BioCatch for $2.4 billion amid surge in AI-powered scams
