Trump hints at Iran deal as oil prices tumble

3 November 2026 · Algeria Now

Photo : The White House / Wikimedia Commons, Public domain

Donald Trump posted on Truth Social that an agreement with Iran could be reached before the US election on 5 November 2026, prompting Brent crude to fall 7.64% to $104.77 per barrel.

The former president, who earlier threatened a hammer blow to Iran and said he could take care of one or two Iranian nuclear sites, said the prospect of a deal was now realistic. Vice‑President J.D. Vance echoed the sentiment, describing both men as rather optimistic about a negotiated settlement to end the war with Iran, though no timetable was given.

Iran claimed its consultations were intense to avoid a resumption of hostilities with the United States, a statement that contributed to the price decline. Tehran also announced it would reopen the Strait of Hormuz in two days instead of the initially announced seven, maintaining the harsh conditions it had rejected from Trump in September.

Qatar and Pakistan are acting as mediators, with Iranian foreign minister Abbas Araghchi noting their active role in the talks. In Tehran, Supreme Leader Mojtaba Khamenei has granted some powers to the government, according to President Massoud Pezeshkian.

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Trump hints at Iran deal as oil prices tumble

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