With oil prices sliding and the Strait of Hormuz still choked off, all eyes turn to a meeting nobody has details on yet.

President Trump confirmed that negotiations with Iran will begin Monday afternoon. He gave no location, no list of who’s showing up, and no timeline for when or if a deal gets signed.

KEY DETAILS

Speaking to reporters as he flew back to Washington from New Jersey, Trump kept things vague on purpose. Asked directly whether Iran faces a deadline to reach an agreement, he sidestepped the question entirely, saying he’d rather avoid more deaths than force a rushed outcome.

This follows a Truth Social post from Saturday night, where Trump claimed Iran and other Middle Eastern nations had asked for extra time to finalize a deal. The goal, according to him: fully reopening the Strait of Hormuz and shutting down Iran’s nuclear ambitions for good. His message to Tehran was blunt – make the deal, and make it fast.

Behind the scenes, Iran’s Foreign Minister Abbas Araqchi has been working the phones, speaking with Saudi Arabia’s Prince Faisal bin Farhan and Pakistan’s army chief Asim Munir. Iranian state media also reported that talks between Tehran and Oman over the strait are nearly finished, though a spokesperson clarified this route negotiation is separate from the larger question of reopening the strait itself.

MARKET REACTION

Oil prices dropped more than 4% in early Monday trading, a clear sign the market is betting on de-escalation, even if it’s cautious.

The Strait of Hormuz isn’t a minor chokepoint – it normally handles roughly 20% of global oil and LNG flow. Since Iran effectively shut it down, energy prices have climbed, and inflation pressure has followed. Trump has defended the economic pain as the cost of stopping Iran from going nuclear, but that pain is now translating into political heat back home. Any real movement toward a deal, or any sign it’s falling apart, will move markets fast.

Final Remarks

Trump has walked this line before: threaten escalation, then pull back for talks that don’t quite close the deal. Monday’s meeting could break that pattern or repeat it. Israel, meanwhile, isn’t standing down regardless of what’s signed – Energy Minister Eli Cohen made clear that any Iranian move toward reviving its nuclear or missile programs would trigger a response. 

Watch for details on who’s actually at the table Monday, and whether Oman’s separate route agreement signals real progress or just a side deal dressed up as one.

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Source: Reuters

Time: 11:10 AM EEST