President Donald Trump said on August 3 that the United States and Iran were in contact and that planned talks were Iran’s “last chance” to reach a deal and avert further escalation of U.S. strikes. 🕊️
Trump said he expected negotiations to address reopening the Strait of Hormuz and U.S. concerns about Iran’s nuclear program. The Associated Press reported that he expected discussions to begin within a day or two.
Iran’s Foreign Ministry gave a different account, saying Tehran was not in talks with Washington and that its discussions with Oman concerned safe passage for ships through the strait.
Markets reacted to the prospect of reduced immediate tension: the S&P 500 rose 1.5% on August 3, the Dow reached a record high, and Brent crude fell about 5% before rebounding in Asian trading. 📈🛢️
The status and scope of any U.S.-Iran negotiations remain unsettled, with Washington and Tehran offering conflicting descriptions of the contacts.