Trump signals progress in Iran talks as oil prices fall
US President Donald Trump has signalled progress in talks with Iran aimed at avoiding a return to war, and US Vice President JD Vance says both he and Trump are optimistic about reaching an agreement. Indirect talks are taking place through mediators, with Qatar and Pakistan playing an active role. Oil prices fell by more than 7 per cent on Monday, 2 Nov, on hopes of an end to the eight-month-old conflict. Iranian state media reported five explosions on Qeshm Island, and Vance described US strikes on Iranian targets in the Strait of Hormuz as limited. The conflict began on 28 Feb with US and Israeli attacks on Iran.
Key facts
- Vance sent a letter to Iranian security chief Mohsen Rezaei last week about possible new talks.
- Trump said the letter focused on assisting Iran with medical supplies and other matters.
- Iran offered to reopen the Strait of Hormuz under strict conditions, according to Iranian officials.
- Washington and Tehran signed a memorandum in June, but tensions have remained high since.
- Israeli Prime Minister Benjamin Netanyahu pushed Trump for strikes in a weekend call, according to regional officials.
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Why it matters
Talks and strikes are unfolding at the same time, and oil markets are reacting to the prospect of a deal.
What changed
First published from Middle East Eye, The Jerusalem Post, Al-Monitor, South China Morning Post and Anadolu Agency