President Donald Trump has not yet made a decision regarding a potential deal that could extend the current ceasefire with Iran. Following a Situation Room meeting, Trump stated he would make a 'final determination' but did not provide further details. Oil prices have decreased this week amid reports that an agreement may be close, although it has not yet been finalized by either party.
U.S. and Arab officials have indicated that the deal could be nearing completion, but Secretary of State Marco Rubio previously suggested there could be 'good news' soon, which has not materialized. Trump emphasized that Iran must agree to never develop nuclear weapons and that the Strait of Hormuz should be reopened for unrestricted shipping.
Iranian officials have described U.S. demands as 'excessive.' Mohsen Rezaei, a senior Iranian official, criticized Trump for stalling negotiations and pursuing objectives beyond diplomacy. An Arab official involved in the peace talks mentioned that the terms of a truce deal had been agreed upon but finalization has been delayed.
Defense Secretary Pete Hegseth stated that Trump is aiming for a significant deal to prevent Iran from obtaining nuclear weapons and mentioned that the U.S. is prepared to resume military actions if necessary. Reports indicate that changes have been made to the draft of the potential deal, but it has not yet been finalized. Iranian Foreign Ministry spokesperson Esmail Baghaei confirmed that a final understanding has not been reached and that discussions are currently focused on ending the war rather than nuclear issues.
Despite the ongoing negotiations, oil prices have fallen as optimism for a deal grows, with Brent crude trading 1.8% lower at approximately $92 a barrel. The closure of the Strait of Hormuz, a vital trade route for global oil, has significantly impacted energy prices over the past three months.