Is peace in the Middle East already close?
Oil prices fell after a statement by Donald Trump, who expressed optimism about a quick end to the conflict in the Middle East.
Investors react to the U.S. President’s declarations as a signal of possible de-escalation of tensions in the region, which have been intermittent since the end of February.
The Republican claims that Tehran has agreed to conditions it has long opposed, including the opening of the Strait of Hormuz, a strategic corridor through which about one-fifth of global oil and liquefied natural gas supplies flowed before the war broke out.
Importantly, Iranian authorities have not confirmed reports of progress in talks, and Trump has not presented any evidence to support his claims.
Leaders of Gulf and European states say that reaching a lasting peace agreement in the Middle East could take up to six months.
Trump, however, disagrees.
“Iran wants to reach an agreement. They are ready to do things today that they were not ready to do two months ago,” he said during a briefing with journalists.
“Negotiations are going very well. If an agreement is reached, it will be announced soon,” he added.
Israel and Lebanon have agreed on a 10‑day ceasefire, which, according to Israeli Prime Minister Benjamin Netanyahu, is a step toward a broader peace agreement.
U.S. and Iranian representatives are expected to participate in the second round of peace talks, which is to extend the failed meeting in Islamabad last weekend.
Trump said on Thursday that he might visit the Pakistani capital if an agreement with Iran is reached.
“They agreed to almost everything. They just need to sit at a table with a pen,” he said.
The U.S. President seems unconcerned with American opinions that blame him for the sharp rise in fuel prices.
“Well, they’re not that high,” he said, answering a question about how long citizens will struggle with high gasoline prices.
A survey conducted by Quinnipiac University shows that 65% of respondents blame Trump for the recent gasoline price increase, calling it “large” or “certain” responsibility.
38% of respondents rate Trump’s economic management positively, the lowest score of his entire White House career, achieved in March and October 2025.
The upcoming midterm elections in the United States could decide whether Trump has caused greater social divisions since his second presidency.
Polls indicate that most Americans do not support his handling of the conflict, despite the White House emphasizing his economic achievements.
Chart. Fuel price change in the United States before and after the U.S. and Israel attack on Iran
Source: CNBC.
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Oil prices fall. WTI at 4% discount
The Brent futures contract price falls by 2% to 97,4 USD per barrel.
Chart. Brent futures contract price
Source: Trading Economics.
The WTI futures contract price reaches 92,3 USD per barrel after a drop of 2,5%.
Chart. WTI (West Texas Intermediate) futures contract price
Source: Trading Economics.
Read also: Gold price fell 12%, will there be further discount soon? Expert: “With possible de-escalation there is a chance to recover losses”
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