US and Iran Hold Talks Amidst Ongoing Conflict
Jakarta, CNBC Indonesia – United States President Donald Trump announced that America and Iran have engaged in “particularly solid” talks aimed at ending the three-week conflict in the Middle East. He revealed this information in a social media post on Monday US time.
Trump stated that Washington and Tehran have been involved in “productive conversations” over the past two days, working towards a “complete and total resolution” of hostilities in the region. He confirmed that he had instructed the Pentagon to “postpone all military strikes against Iran’s power plants and energy infrastructure for five days, conditional on the success of ongoing meetings.”
“The US and Iran will continue to talk throughout the week,” Trump stated, according to AFP on Tuesday (March 24, 2026).
Trump’s statement came as a surprise, considering his previous threats to attack Iran’s power plants if the Strait of Hormuz shipping lane was not reopened.
However, Iranian media quoted a foreign ministry statement denying the existence of any such talks. Instead, Iran suggested that Trump was attempting to lower energy prices, which had surged due to the ongoing war. The conflict began on February 28, 2026, with a joint US-Israeli attack on Iran, resulting in the death of Supreme Leader Ayatollah Ali Khamenei.
Meanwhile, Iran continues to retaliate against US-Israeli attacks by restricting traffic through the Strait of Hormuz, a critical route for a fifth of the world’s crude oil supply, and targeting US military facilities, embassies throughout the Gulf, and locations within Israel. Fatih Birol, head of the International Energy Agency, warned that a prolonged war could lead to a global crisis exceeding the combined impact of the 1970s oil shocks and Russia’s invasion of Ukraine.
Oil prices had surged above US$100 per barrel as a result of the conflict. However, following Trump’s announcement on Monday, oil prices experienced a significant decline.
The price of North Sea Brent crude, the international benchmark, plummeted more than 14% to US$96.00 per barrel. Simultaneously, the main US oil contract, West Texas Intermediate, fell more than 14% to US$84.37 per barrel.
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