Iran War Nears a Turning Point as Trump Claims Direct Talks and Oil Holds Above $100

World NewsSeptember 17, 2026 · By Jake Rivers

Welcome to today’s world briefing. Nearly seven months after it began, the Iran war may be approaching a decisive moment. President Donald Trump says the conflict is “hopefully” near its end and that he has heard from Tehran “directly.” Iranian officials tell a different story. Here is a clear, calm look at where things stand, and why the whole world is watching one narrow stretch of water.

What Trump said about the Iran war

According to Al Jazeera and CNBC, Trump said the United States is “hopefully toward the end” of its war with Iran, adding that Tehran “wants to make a deal.” Fox News reports that he also told Axios he has a “big decision coming up” on whether to escalate against Iran’s leadership or take a different path. The war began on February 28.

Tehran’s response: not so fast

Iranian officials pushed back. Al Jazeera reports that senior official Mohsen Rezaei accused Trump of sending “mixed signals” and said there would be no talks until Iran’s conditions are met. A former Iranian diplomat told the outlet there had been no new effort beyond mediation already under way. Foreign Minister Abbas Araghchi, for his part, spoke of restoring calm to the region.

Who is trying to broker peace

Pakistan’s army chief, Field Marshal Asim Munir, is leading mediation, with Qatar and Oman also acting as go-betweens, Al Jazeera reports. Efforts are focused on reviving the June MoU rather than drafting a new deal. China’s foreign minister, Wang Yi, has called for restraint and for the Strait of Hormuz to reopen. Separately, the Just Security Early Edition roundup notes an Axios report that U.S. diplomats met Houthi representatives in Oman to keep a 2025 ceasefire in the Red Sea alive.

Why the Iran war is hitting wallets worldwide

Roughly a fifth of the world’s oil normally passes through the Strait of Hormuz, and Iran has effectively closed it. On Thursday, TheStreet showed West Texas Intermediate near $100.70 a barrel and Brent near $103.60, even after a dip of around 2%. Fox News reports the average U.S. gasoline price rose overnight from $4.36 to $4.43 a gallon, about 9% higher than a month ago. Vice President JD Vance warned that a U.S. withdrawal would trigger a “worldwide energy crisis.”

A widening conflict

• Saudi Arabia and the Houthis. Riyadh accused Yemen’s Iran-aligned Houthis of targeting Mecca, calling it a “red line.” The Houthis denied involvement, and Iran’s foreign ministry questioned the claim, according to Fox News. Debris from an intercepted drone killed one person in Taif province.
• Air defenses are stretched. The Associated Press, cited by Just Security, reports that Saudi Arabia has sought missile interceptors from France, the United Kingdom, Pakistan and Egypt as U.S. supplies run low.
• Accountability questions. A United Nations fact-finding mission found reasonable grounds to believe U.S. strikes in February on an Iranian school and a sports facility amounted to war crimes, Reuters reported, as cited by Just Security.
• Shipping disruption. U.S. Central Command says it has redirected 104 commercial vessels in the region, according to Fox News.

What to watch next

Three things will tell us whether the Iran war is really winding down: whether Tehran confirms any direct channel with Washington, whether tanker traffic through Hormuz resumes, and whether the Saudi–Houthi exchange cools or escalates. Until then, expect oil, and the inflation that follows it, to stay sensitive to every headline. We will keep this story updated.

Sources

1. Al Jazeera — Trump claims direct talks with Iran: Is diplomacy picking up again?
2. CNBC — Trump says U.S. ‘hopefully’ nearing end of Iran war as Saudi Arabia, Houthis trade strikes
3. Fox News — Live updates: Trump claims he has spoken to Iran ‘directly’
4. Just Security — Early Edition: September 17, 2026
5. TheStreet — Stock Market Today, Sept. 17, 2026