President cites ‘productive conversations’ with Tehran as markets rally and oil prices tumble, though Iran denies any negotiations are underway
President Donald Trump announced Monday he is postponing threatened strikes on Iran’s power plants and energy infrastructure for five days, citing what he described as “very good and productive conversations” with Iranian authorities aimed at ending the war in the Middle East NBC NewsCNN.
The abrupt reversal came hours before a 48-hour deadline Trump had set on Saturday for Tehran to reopen the Strait of Hormuz or face attacks that would “obliterate” the country’s power network CNBC. Markets surged and oil prices dropped sharply on the news.
“Based on the tenor and tone of these in depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes,” Trump wrote in a post on Truth Social early Monday morning. The postponement is conditional on “the success of the ongoing meetings and discussions.”
But Iran immediately disputed the president’s account. Iranian state media, citing an unnamed senior security official, said no direct or indirect talks have taken place between Washington and Tehran CNBC. The Iranian Foreign Ministry characterized Trump’s move as “part of efforts to reduce energy prices and buy time to implement his military plans” NBC News.
Speaking to reporters at Palm Beach International Airport, Trump claimed his envoys had been negotiating with “a top person” in Iran’s regime, though not Supreme Leader Mojtaba Khamenei. He later said envoys Steve Witkoff and Jared Kushner spoke with a senior Iranian official and reached agreement on many points Axios. When asked about Iran’s denial, Trump suggested it resulted from miscommunication within Iranian leadership.
A U.S. source said Turkey, Egypt, and Pakistan have been passing messages between the two sides Axios, suggesting the diplomatic channel may be indirect rather than face-to-face negotiations.
The standoff centers on the Strait of Hormuz, a narrow waterway connecting the Persian Gulf and Gulf of Oman through which roughly 20% of global oil and gas typically passes CNBC. Iran has effectively blocked the strait since the U.S. and Israel launched attacks on the country on February 28, sparking swift retaliation and triggering a wider regional war NBC News.
Energy prices have spiked dramatically since the blockade began. Wall Street stocks rose Monday morning following Trump’s announcement, while oil prices fell sharply after days of gains that rattled global markets.
The postponement followed a weekend of escalating threats. The Islamic Revolutionary Guard Corps warned it would retaliate by targeting power plants across the Middle East that supply electricity to U.S. bases, should Washington strike Iranian infrastructure Time. “Do not doubt that we will do this,” the IRGC statement read.
Not everyone accepted Trump’s characterization of the pause as a diplomatic breakthrough. Senator Chris Murphy, a Connecticut Democrat, argued the move was designed to calm financial markets rather than signal genuine progress with Iran NBC News. “Trump isn’t announcing a pause on strikes,” Murphy wrote on social media. “He’s saying he’s postponing a possible war crime—strikes on Iran’s civilian energy infrastructure. This isn’t a message to Iran. It’s a panicky message to the markets.”
German Chancellor Friedrich Merz said he was “grateful” to Trump for the delay, noting he had expressed concerns about the planned attacks during a phone call the previous day CBS News. The European Council has called for a moratorium on strikes against energy and water facilities and urged maximum restraint from all parties.
Analysts remain skeptical about the prospects for a quick resolution. Mohamad Elmasry of the Doha Institute for Graduate Studies suggested the announcement “may be his way of giving himself a dignified exit” but questioned what Iran and Israel would do next. Alan Fisher, reporting for Al Jazeera from Washington, noted that “Trump’s deadlines tend to be elastic” and that Friday’s expiration may not bring definitive answers.
Trump told reporters that Iran must give up its enriched uranium stockpile as part of any deal and claimed the Strait of Hormuz would reopen soon if negotiations succeed. “If a deal happens, it’s a great start for Iran and the region,” he said, though he acknowledged he could not guarantee an agreement.
The five-day window opens a diplomatic path that appeared nearly closed just days ago. Whether it leads to substantive negotiations or simply delays an escalating confrontation remains uncertain, with both sides offering sharply different versions of what is actually happening behind the scenes.