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.
Qeshm Island
5 stories since 30 October 2026, newest first
3 November 2026
Brent crude settles at $105.26 per barrel and West Texas Intermediate at $97.07 after a 7% drop the day before. The decline follows a reported U.S. strike on Iran's Qeshm Island, which unnamed officials describe as part of a series of limited secret attacks. President Trump later declared that the United States is at war with Iran and has won.
The United States conducted air strikes on Iran's Qeshm Island on Monday. Vice President JD Vance said he and President Donald Trump feel optimistic about reaching a negotiated settlement with Iran, though no deadline has been set. Trump has previously argued that war may be necessary to prevent Iran from acquiring a nuclear weapon, while Secretary of State Marco Rubio indicated on Nov 1 that the administration prefers a diplomatic resolution and wants to avoid further military action.
2 November 2026
Iranian negotiators left the Doha talks with Qatari mediators on 1 Nov, and an official says a draft proposal is circulating and a follow-up meeting could be arranged. Iran's foreign ministry said the exit was not caused by problems in the negotiations and that exchanges with Washington continue through mediators. The talks rest on a seven-step plan Iran drafted in September to reopen the Strait of Hormuz and end the US naval blockade. US President Donald Trump has rejected Iran's initial proposal. Reports on 3 Nov say US forces struck Qeshm Island and Iran's Revolutionary Guard fired missiles at US aircraft.
30 October 2026
Iran's Revolutionary Guards Navy says four oil tankers caught fire after striking mines in the Strait of Hormuz, with a fourth tanker hit later on Friday, 30 Oct. The Guards say the ships used unauthorized routes and ignored warnings; one tanker carried more than 2 million barrels of crude. UK Maritime Trade Operations separately reported a tanker struck by a projectile about 40 nautical miles south of Lavan Island, with its crew safe. Reuters could not verify Iran's statements, and the US military did not immediately confirm them.