US-Iran war LIVE: Iran’s FM Araghchi discusses Strait of Hormuz security with Omani, Saudi counterparts | Today’s news
US-Iran War LIVE: Iranian Foreign Minister Abbas Araghchi discussed issues related to the security of the Strait of Hormuz in separate phone calls with his Saudi and Omani counterparts on Monday (local time), according to a statement posted on his Telegram channel on Tuesday.
The statement said Abbas Araghchi “discussed the latest bilateral and regional developments and emphasized the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region.”
Israel’s prime minister arrives in Washington for a meeting with Trump
Israeli Prime Minister Benjamin Netanyahu arrived in the US on Monday (local time) for high-level talks with US President Donald Trump, putting regional security and the confrontation with Iran at the top of the agenda. Before leaving, the Israeli prime minister stressed that dealing with threats from Iran would be his primary goal during negotiations with Trump. Netanyahu’s trip will be his eighth face-to-face bilateral meeting with the US president, who returned to office in January last year. In notes shared on X, he wrote: “We will discuss all the issues on the agenda, especially Iran,” adding: “Our goal is naturally to protect our security and also to expand the circle of peace around us. I embark on this mission with one clear goal: to ensure the security, strength and future of our dear State of Israel.”
Gold Holds Gains As Trump Is Upbeat About US-Iran Talks
Gold remained higher after Trump said Washington and Tehran had engaged in discussions aimed at ending the conflict, fueling inflation concerns and boosting expectations for higher interest rates. The precious metal traded near $4,075 an ounce in early trading after rising 0.6 percent on Monday. Trump said there was a “big chance something could happen” about the deal, remarks that appeared to ease fears of an immediate military escalation. However, he warned that hostilities could resume if the talks fail to reach an agreement. Gold has traded near the $4,000 an ounce mark since late June, supported by investors buying on the decline, helping the metal stay above what many market participants see as important psychological support. Despite this resilience, gold has fallen more than 20 percent since the conflict began five months ago.
Trump says the US is “not involved” in the conflict between the Houthis and the Saudis
The US president clarified Washington’s position on the ongoing fighting between Saudi Arabia and Yemen’s Houthis on Monday (local time), saying the US was “not involved” right now, but left the door open to future intervention “if there is a problem”.
Trump made the remarks to reporters aboard Air Force One, saying Washington was “negotiating with Saudi Arabia” currently in the midst of ongoing negotiations on a civilian nuclear deal between the two nations.
Oil extends decline on optimism over US-Iran peace talks
Oil fell sharply after Trump said the US and Iran were in talks to end the Middle East conflict. West Texas Intermediate fell below $82 a barrel after losing more than 7% on Monday. Brent fell the most in more than three months to close near $88. Crude has been rattled this month, initially rising sharply as hostilities between Washington and Tehran escalated again and the war spread to the Red Sea, before falling in recent days as tensions eased. Still, traders remain cautious as tanker traffic through the Strait of Hormuz has yet to normalize.
