Iran vows policy holds as oil hovers near $115

Iran maintained on Sunday that its diplomatic and military positions will not change, even if President Donald Trump resumes airstrikes. The government stated that indirect communications with the United States are continuing despite the ongoing conflict. This stance came as global oil markets stayed tense, with Brent crude trading near $115 a barrel early Monday.

The price of crude has remained high due to supply concerns linked to wars in the Middle East and Ukraine. Demand for heating fuel is expected to rise as the Northern Hemisphere enters winter. The U.K. navy’s Maritime Trade Operations center reported that a tanker leaving the Strait of Hormuz was struck by an unknown projectile on Friday. The vessel was disabled, but its crew was safe. Iran claimed responsibility for hitting at least four tankers near the strait on Thursday, though other nations did not confirm those strikes.

President Trump described his options in blunt terms during an interview with Fox News. He said he must decide whether to finish the conflict or make a deal. On Friday, he suggested the United States might launch another major operation, referencing the joint campaign with Israel that began on Feb. 28. He also asserted that the U.S. now controls the Strait of Hormuz. Trump criticized the 2015 nuclear deal during the same segment, a pact he exited during his first term.

Abbas Araghchi, the Iranian foreign minister, told a televised audience in Tehran that talk of war has not shifted his government’s thinking. He stated that Washington and Israel have tried to change Iran’s behavior twice already and would not see a different result this time. Esmaeil Baqaei, the foreign ministry spokesperson, said the door to diplomacy is still open. He noted that messages are being sent to the U.S. through intermediaries, although direct negotiations have been stalled for weeks.

Military preparations continue in the region. A third U.S. aircraft carrier group has been deployed to the area. At the same time, American diplomatic staffing in the region has been reduced. Speculation suggests Trump may order new strikes after the midterm elections next Tuesday. Iran’s foreign ministry said the outcome of the U.S. election makes no difference to Tehran’s strategy.

Regional leaders are moving to ease tensions. Saudi Defense Minister Khalid bin Salman, Pakistani Army Chief Asim Munir, and Turkish Intelligence Chief Ibrahim Kalin are scheduled to meet with Iranian officials in Tehran on Monday. They will meet with Mohsen Rezaei, Iran’s security chief. These talks follow eight months of war in the region. Saudi Deputy Minister for Public Diplomacy Rayed Krimly said the visit supports mediation efforts by Qatar and Pakistan.

Violence persisted in Yemen as well. The Saudi-led coalition said it intercepted a ballistic missile fired by the Houthis toward Riyadh. The coalition also destroyed two missile launchers in Sanaa. The Houthis, who are backed by Iran, claimed they hit Riyadh’s international airport with a missile. This occurred hours after flights resumed at the airport. They also said drones struck oil pumping stations. Earlier attacks this month closed the airport for more than two weeks and forced Saudi Arabia to delay its major investment conference until 2027.

In Israel, Prime Minister Benjamin Netanyahu warned that Iran and its proxies might try to disrupt the U.S. elections. He told the public not to test them. Defense Minister Israel Katz called reports of a clash between Netanyahu and Army Chief Eyal Zamir baseless. Netanyahu had previously dismissed such reports as rubbish.