Trump Says More Iran Strikes Are ‘Highly Unlikely,’ Oil Prices Are Falling Further.

Oil prices are dropping on Monday after President Donald Trump said renewed attacks against Iran are “highly unlikely.’

Brent crude, the international benchmark, fell 3.22% and stood at $95.15 per barrel at 7:47 a.m. ET, while West Texas Intermediate, the U.S. benchmark, dropped 2.57% and clocked in at $88.50 at the same time.

Trump made the comments in an interview with CNN, claiming that he favors refraining from returning to a full-fledged conflict while talks to curb Tehran’s nuclear program continue. “It depends on whether or not they sign a very strong agreement,” the president told the outlet.

However, he also renewed threats against the country, saying the U.S. has three aircraft carriers in the region and they are “fully locked and loaded.” “We have 38 bridges in our site that we can knock down in literally one hour,” Trump added.

Trump is set to meet with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani on Monday as negotiations continue. Israeli outlet Israel Hayom claimed that Al Thani would be presenting an Iran-approved proposal that would include lifting the U.S. naval and economic blockade in exchange for the reopening of the Hormuz Strait. That would mean Iran dropping its demand to control the waterway and charge tolls for passage. The outlet went on to note that $8 billion in Iranian funds held in Qatar would be unfrozen.

Iranian Foreign Minister Abbas Araghchi urged the U.S. to accept Tehran’s latest offer, threatening with escalation if Washington doesn’t.

“American voters have made their choice. Time for the White House to make its own. Our 2-day proposal stands: meet the requirements, including end to war on all fronts, and you will see results. Or choose war, and see our alert and battle-hardened Warriors rain down hell,” Araghchi wrote on X on Sunday.

Democrats vowed to end the war after the party’s resounding victory, demanding that the administration take immediate steps to bring the conflict to a conclusion.

“One of the first things that needs to happen now, not even waiting until we get to January 3rd of the new Congress…is that the president and the administration should end this reckless and costly war of choice in Iran,” Democratic House Leader Hakeem Jeffries said in an interview with CNN.

Democratic Senate leader Chuck Schumer echoed the sentiment. “We are going to end the war,” he said at a news conference in Washington, D.C. “We have some Republicans already who have joined us in ending the war, and the Founding Fathers had the power of the purse as one of the ways of deterring a president who does war without the consent of the American people.”

Some Republicans are also criticizing the war in public. Chief among them is Vice President JD Vance, who said the party needs to have an “honest conversation” about it moving forward.