Former U.S. President Donald Trump has rejected Iran’s conditional proposal to reopen the Strait of Hormuz and resume nuclear talks within seven days, The Wall Street Journal reported, as cited by CNBC. Iran's offer depended on ending what Tehran calls U.S. "acts of aggression," including a naval blockade, economic pressure, and the release of Iranian assets.
Trump later confirmed his rejection of the proposal, while U.S. and Iranian officials reportedly continued negotiations through mediators on issues such as safeguards against Iran developing a nuclear weapon.
The rejection comes amid ongoing Middle East tensions. The Wall Street Journal reported that Trump privately expects renewed U.S. bombing of Iran after the November midterm elections; CNBC could not independently verify this. Meanwhile, Saudi-led coalition forces intercepted and destroyed two Houthi drones headed for Riyadh and two ballistic missiles targeting the Khamis Mushait region, underscoring wider regional security risks.
The conflict has disrupted energy shipments and pressured global oil markets. However, crude prices declined over the week as diplomatic talks between Washington and Tehran raised hopes for resolution. West Texas Intermediate settled at $92.41 a barrel, down 2.3% on the day and 7.9% for the week, while Brent settled at $104.32, down 2.1% on the day and flat for the week. Despite these declines, WTI is nearly 61% higher year to date, and Brent is more than 71% higher.
