Trump Says US-Iran Talks Resume Monday, Calls Hormuz Deal “About to Be Signed”

Trump Says Iran Talks Start Monday, Hormuz Deal “Close” — Oil Slides Over 4%

Published August 3, 2026 · Finance-Solutes.com News Desk

President Donald Trump said Sunday evening that negotiations with Iran will begin Monday afternoon, and that an agreement covering the Strait of Hormuz is “close” to being finalized — hours after he called off a planned large-scale strike on Iran for the second time in a week. Oil prices fell more than 4% in early Monday trading as markets moved to price out the war-risk premium that has weighed on energy markets for months.

Speaking to reporters aboard Air Force One, Trump said talks with Tehran are being held in the form of formal negotiations. He said Saudi Arabia believes a deal is close, framing it as covering the reopening of Hormuz first, with a separate agreement on Iran’s nuclear program to follow — a walk-back from his claim just two days earlier that a single deal would address both issues at once.

Investor takeaway: A credible, durable reopening of the Strait of Hormuz would be the single biggest bearish catalyst for oil this year, given roughly a fifth of global crude and LNG shipments transit the waterway. But traders have been burned before by premature de-escalation headlines in this conflict, and Tehran itself has publicly disputed the shape of any deal — so today’s rally in risk assets and selloff in oil should be treated as sentiment-driven until an actual signed agreement materializes.

Why Trump Called Off the Strike

Trump said the U.S. had been “all set” to carry out what he described as a massive attack on Iran over the weekend, but held off after Saudi Arabia, the UAE, Qatar and Iran itself asked him to give negotiations a chance. It is the second time in as many weeks that Trump has walked back a threatened strike, following a pattern seen repeatedly since the conflict escalated: threaten military action, then cite regional pressure as the reason for standing down.

The president declined to set a firm deadline for when a deal might be reached, even as he described an agreement as imminent — a combination that has become a recurring feature of his public statements on the conflict since fighting began in late February.

What’s Actually on the Table in Hormuz

The diplomatic track running in parallel to Trump’s comments centers on Oman, which has been mediating discussions with Iran over the strait. Iranian Foreign Minister Abbas Araghchi said talks with Oman were in their “final stages.” However, Iran’s Foreign Ministry spokesperson clarified that those talks concern establishing a new, mutually agreed transit route through Hormuz — a narrower, more technical arrangement that he said has “no link” to the broader question of whether the strait is open or closed, which he called a separate discussion.

Tehran added a further complication early Sunday, stating it has not agreed to any deal to reopen Hormuz and that its policy toward the waterway remains unchanged. Iran has effectively blockaded the strait for months in response to earlier U.S. military action, and Iran’s Revolutionary Guard has continued intercepting tankers attempting to transit the route as recently as this past week.

• Base case: A narrow transit-corridor arrangement gets finalized first, easing — but not fully resolving — the Hormuz bottleneck.
• Upside risk: A broader ceasefire and reopening agreement follows quickly, extending the oil selloff and pressuring energy-sensitive inflation readings.
• Downside risk: Talks stall or collapse, as has happened multiple times since the original June memorandum of understanding was signed, sending oil back toward recent highs.

Oil Markets React Sharply

Crude prices dropped sharply as the news broke, with U.S. WTI crude sliding more than 4.5% and Brent crude down a similar magnitude in early Monday trading, as the market moved to unwind the geopolitical risk premium built up over months of conflict. The move reflects how sensitive energy markets remain to any signal of easing tension around Hormuz, given the strait’s outsized role in global oil and LNG flows.

Market snapshot (Monday, August 3, 2026, early trading): WTI crude and Brent crude both fell more than 4% following Trump’s comments. Oil markets remain highly reactive to headlines out of the region — always check live pricing before acting on any figures here, as conditions can shift within hours.

The Bigger Picture

The cancelled strike marks a further de-escalation in a conflict that has repeatedly undermined the ceasefire framework agreed between the U.S. and Iran back in June. Regional mediators — including Pakistan, Saudi Arabia and Qatar — have been working behind the scenes to preserve that broader peace framework even as U.S. and Iranian forces have continued exchanging strikes in recent weeks. The U.S. has reportedly been weighing strikes on Iran’s energy infrastructure, an escalation Tehran has warned would trigger a forceful response.

What Investors Should Watch This Week

• Monday afternoon’s negotiating session — the first concrete test of whether Sunday’s rhetoric translates into a real framework.
• Confirmation (or denial) from Tehran on the scope of any transit-route agreement, given the gap between Trump’s and Iran’s public characterizations of the talks.
• Tanker traffic data through Hormuz from ship-tracking firms, which will show whether de-escalation is showing up in actual shipping activity rather than just headlines.
• Follow-through in oil and gold — a sustained move, rather than a one-day reaction, would be the stronger signal for portfolio positioning.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial or investment advice. Geopolitical developments in this conflict have shifted rapidly and repeatedly, and figures such as oil prices should always be checked against real-time data before making any investment decision. For personalized guidance, Finance-Solutes.com’s free courses and expert advisors are available to help translate breaking market news like this into a strategy that fits your own portfolio.

Source: Reporting based on Trump’s remarks aboard Air Force One as covered by Reuters (Al-Monitor), the Associated Press (Times of Israel), ABC News and CBS News, with additional context from Iranian state media (IRNA) statements from Foreign Minister Abbas Araghchi and Foreign Ministry spokesperson Esmail Baghaei.

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