Trump says US-Iran talks ‘very good', delays strikes

US President Donald Trump said Monday that Washington and Tehran have held “very good” and “productive” talks aimed at ending the three-week Middle East conflict, announcing a pause in planned US attacks on Iran’s energy infrastructure.

In a social media post, Trump said discussions over the past two days were focused on reaching a “complete and total resolution” to the conflict. He added that he had instructed the Pentagon to delay any strikes on Iranian power plants and energy facilities for five days, depending on the progress of ongoing talks.

Iran, however, denied that any such negotiations had taken place, with its foreign ministry dismissing the claim in local media reports.

The unexpected announcement came just hours before a US ultimatum demanding Iran reopen the Strait of Hormuz or face potential military action targeting its energy infrastructure.

Despite the diplomatic signals, tensions remain high. Iran has restricted shipping through the Strait of Hormuz, a key global oil route, and carried out attacks on energy sites, US-linked facilities and targets in Israel. Israel also launched fresh strikes on Tehran shortly after Trump’s statement.

The development had an immediate impact on global markets, with oil prices dropping sharply. Brent crude fell more than 14 percent to around $96 per barrel, while West Texas Intermediate dropped over 14 percent to about $84.

The head of the International Energy Agency warned that a prolonged conflict could trigger a global energy crisis worse than past oil shocks. Meanwhile, China moved to limit domestic fuel price increases to cushion the impact of rising global oil costs.

Russia called for an immediate halt to hostilities, urging a political solution that considers the interests of all sides, particularly Iran.

The conflict, which began with US and Israeli strikes on Iran, has expanded across the region, including fighting in Lebanon involving Iran-backed Hezbollah. The violence has caused significant casualties and displacement, while raising fears of further escalation and broader regional instability.