United States - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012

White House, Washington DC, United States of America

United States

August 3, 2026

District of Columbia 11:38 am

28°C

SAEED KHAN / AFP via Getty Images

Oil falls 5% after Trump calls off Iran strikes, says Hormuz deal agreed

Oil prices fell after President Donald Trump said on Sunday that he had suspended planned strikes on Iran following a request from Tehran and other Middle Eastern countries.

US President Donald Trump walks to board Marine One on the Ellipse near the White House in Washington, DC, on July 31, 2026. President Trump is traveling to Camp David in Maryland to hold a cabinet meeting and later to Bedminster, New Jersey to spend the weekend at his golf club. (Photo by Oliver Contreras / AFP via Getty Images)

Analysis

No Iran commitment, no Trump endorsement: Netanyahu leaves US empty-handed

The Israeli prime minister described Tuesday's meeting with US President Donald Trump was the "best ever," but diplomatic sources say he left the Washington with little tangibles.

In Tel Aviv, reporting on national security, Israeli politics, defense

Latest News

China cuts deal with Houthis, adjusts for long US war with Iran

This aerial photo shows a tanker unloading imported crude oil at a terminal port in Qingdao, in China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

Exclusive

Saudi Arabia to announce Red Sea coalition to counter Houthi threats

Houthi soldiers stand guard on a missile carrier during an official military parade marking the ninth anniversary of the Houthi takeover of the capital, Sanaa, on Sept. 21, 2023.

Amberin Zaman

Jared Szuba

By Amberin Zaman , Jared Szuba

Analysis

Katz riles Iran, US as Netanyahu-Trump meeting raises questions

Win McNamee/Getty Images

In Tel Aviv, reporting on national security, Israeli politics, defense

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Elizabeth Hagedorn

Diplomatic Correspondent

In Washington, DC, reporting on diplomacy, regional politics, human rights

Jared Szuba

Defense and Security Correspondent

In Washington, DC, reporting on defense, national security, military

Joyce Karam

Editor-in-Chief

Rosaleen Carroll

News Reporter and Supporting Editor

In Washington, DC, US, reporting on the Middle East

Paul J. Saunders

In Washington, DC, reporting on Russia in the Middle East

US Vice President JD Vance speaks at the Wisconsin Air National Guard facility at Milwaukee Mitchell International Airport on July 8, 2026, in Milwaukee, Wisconsin.

Vance says Israeli intelligence had ties to Epstein: What to know

Vice President JD Vance has grown more critical of Israel, possibly in an effort to capitalize on changing views among voters with an eye on the 2028 presidential election.

DAVOS, SWITZERLAND - JANUARY 22: U.S. President Donald Trump (C) sits in between Prime Minister of Armenia Nikol Pashinyan (L) and Azerbaijan President Ilham Aliyev during a signing ceremony for the “Board of Peace” at the World Economic Forum (WEF) on January 22, 2026 in Davos, Switzerland. The US-backed “Board of Peace” is intended to administer the fragile ceasefire in the Gaza Strip after the war between Israel and Hamas. The final makeup of the board has not been confirmed. (Photo by Chip Somodevilla/G

Trump taps Russia-born investor to oversee $200M+ fund backing Armenia-Azerbaijan corridor

The appointment of Chicago-based investor Konstantin Sokolov to oversee a $200 million fund marks a new phase for Washington's proposed trade and transportation route linking Azerbaijan, Armenia and Turkey.

Analysis

As Trump prioritizes Hormuz, Israel fears Iran rebuilding nuclear program while preserving ballistic missile threat

Israel is worried that the United States is centering the Strait of Hormuz, deprioritizing the threat of a nuclear Iran.

In Tel Aviv, reporting on national security, Israeli politics, defense

US President Donald Trump gestures as he steps off Air Force One to board the new Qatari-gifted Boeing plane, en route to the United States following his participation in the NATO Summit at Royal Air Force Mildenhall on July 8, 2026, in Mildenhall, England.

Trump says US to strike Iran's Pickaxe Mountain nuclear site

Satellite imagery has detected recent construction at the underground facility.

A man holds a Syrian flag across the street from the White House after Syrian President Ahmed al-Sharaa met with President Donald Trump at White House in Washington, on Nov. 10, 2025.

Syria, US hold first business forum since sanctions relief: What to know

The one-day forum in Damascus was organized by Syria’s Ministry of Economy and Industry and the US-Syria Business Council, which was established in Washington last June to advance trade and investment between the two nations.

Iraqi Prime Minister Ali al-Zaidi at a Council of Ministers meeting in Baghdad on July 11, 2026.

Analysis

On first foreign trip, Iraqi PM Zaidi woos Trump but Iran casts long shadow

Iraq's new prime minister is in Washington promising business deals and closer ties with the United States, but convincing the Trump administration he can rein in Iran-backed militias may prove his toughest challenge.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Michael M. Santiago/Getty Images

Oil climbs after US strikes Iran, Trump vows to control Strait of Hormuz

US Central Command said in a statement early on Monday that it struck dozens of Iranian targets overnight as Iran targeted American bases across the Gulf.

U.S. President Donald Trump returns to Joint Base Andrews on July 09, 2026 in Washington, DC. Trump, switched from the old Air Force One to the new Air Force One while stopping in the U.K. at RAF Mildenhall Air Force Base was returning from his visit to Ankara, Turkey where he attended the NATO summit. (Photo by Win McNamee/Getty Images)

Trump says US to resume naval blockade of Iran's ports

President Donald Trump countered Iran's attempts to collect tolls on shipping via the Strait of Hormuz by announcing the US would do so at a rate of 20% for all cargo transiting the waterway.