
Further strikes on Iran would not be needed, US President Donald Trump said, according to a Bloomberg report on Monday, although the US remains “locked and loaded,”. He also pointed to "positive momentum" towards bringing the Iran war to an end.
Trump described Iran’s military position by saying: “Iran, militarily, is effectively over,”. He added: “We’re just keeping it the status quo, and we’re doing that really at the behest of countries that are their neighbors,”.
After Republicans’ midterm election defeat highlighted the conflict’s deep unpopularity, Trump’s comments signalled that he is winding it down.

According to the US President, Qatar, Saudi Arabia, the UAE, Bahrain, Kuwait and other countries favour maintaining the status quo, the US naval blockade and the new Iron Gate land effort.
Washington was meanwhile urged to stop issuing false reports about negotiations by Iran’s Supreme National Security Council Secretary, Mohsen Rezaei. He said the US government had suffered serious damage from the war and that Washington should now accept the seven conditions Iran has repeatedly outlined.
A fresh proposal from Qatar and Pakistan seeks to restart diplomatic talks between Washington and Tehran, according to sources cited by Al Hadath. It would permit Iran to enrich uranium on its own soil up to 3.67%, a ceiling Tehran has reportedly agreed to. Under the potential agreement, the United States has also offered to release between $6 billion and $9 billion in frozen Iranian assets in return for a deal.
Traded on international markets, WTI Oil is a variety of crude oil whose initials stand for West Texas Intermediate. Alongside Brent and Dubai Crude, it is one of three major types. Its relatively low gravity and sulphur content earn it the descriptions “light” and “sweet”, respectively. This high-quality oil is considered easy to refine. Produced in the United States, it is distributed through the Cushing hub, known as “The Pipeline Crossroads of the World”. WTI acts as an oil market benchmark, with its price regularly cited by the media.
Supply and demand underpin WTI Oil prices, as they do for all assets. Stronger global growth can lift demand, while weaker growth can have the reverse effect. Supply disruptions arising from political instability, wars or sanctions can also affect prices. Another important influence is policy set by OPEC, a group of major oil-producing countries. Because oil is traded predominantly in US Dollars, the currency’s value also affects WTI crude prices: a weaker US Dollar can make oil more affordable, while a stronger one can do the opposite.
WTI Oil prices respond to weekly inventory figures from the American Petroleum Institute (API) and the Energy Information Agency (EIA), as changes in stocks reflect shifts in supply and demand. Falling inventories can point to stronger demand and lift oil prices; rising stocks can indicate greater supply and put downward pressure on prices. The API releases its report each Tuesday, followed by the EIA the next day. The two sets of figures tend to be similar, coming within 1% of one another 75% of the time. As the EIA is a government agency, its data is regarded as more reliable.
At meetings held twice a year, the 12 oil-producing nations that make up OPEC (Organization of the Petroleum Exporting Countries) jointly set production quotas for member countries. These decisions frequently influence WTI Oil prices: reduced quotas can constrain supply and raise prices, whereas increased production has the reverse effect. The wider OPEC+ grouping includes ten additional countries outside OPEC, with Russia the most notable member.