In a series of candid remarks, President Trump expressed his aspirations for a diplomatic resolution with Iran, contingent upon the nation’s commitment to never develop nuclear weapons. Speaking on Tuesday night, he emphasized the importance of a clear pledge from Iran, stating, “We want to make a deal but we haven’t heard those secret words: ‘We will never have a nuclear weapon.’ My preference is to solve this problem through diplomacy, but one thing is certain: I will never allow the world’s number one sponsor of terrorism, which they are by far, to have a nuclear weapon — can’t let that happen.”
Amid these tensions, market analysts observed slight fluctuations in crude oil prices, with futures for both the US benchmark West Texas Intermediate (WTI) and the international benchmark Brent crude increasing by approximately 0.7% earlier in the day and maintaining stability throughout the evening. The escalating conflict between the U.S. and Iran poses significant risks to the Strait of Hormuz, a crucial shipping corridor predominantly overseen by Iran and essential for global oil transportation.
Iran’s Foreign Minister, Abbas Araghchi, responded to the heightened rhetoric from the U.S. through a post on social media, firmly reiterating Iran’s stance against developing nuclear weapons. He stated, “Our fundamental convictions are crystal clear: Iran will under no circumstances ever develop a nuclear weapon; neither will we Iranians ever forgo our right to harness the dividends of peaceful nuclear technology for our people.” This declaration comes amid the backdrop of the U.S. building a considerable military presence in the Gulf region, which includes two aircraft carriers and the largest air power buildup in the area since the 2003 invasion of Iraq.
During his State of the Union address, Trump underscored the potential threats posed by Iran’s military advancements, specifically referencing their ballistic missiles that could reach Europe and ongoing efforts to develop missiles capable of striking the U.S. He asserted, “I will never hesitate to confront threats to America wherever we must. We wiped it out [the Iranian nuclear program], and they want to start it up all over again.”
As the situation intensifies, U.S. Special Envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law and senior advisor, are preparing to meet with Iranian representatives in Geneva on Thursday. This meeting is viewed as a critical opportunity to explore diplomatic avenues and potentially avert further escalation.
