Trump sets Monday Iran talks as Strait of Hormuz remains shut
Why it matters: Iran's closure of the waterway had disrupted roughly 20% of global oil and LNG flows before prices fell in early Monday trading.
President Donald Trump said talks with Iran would begin Monday afternoon, signaling another bid to ease a conflict that has left the Strait of Hormuz largely closed and rattled energy markets. Speaking to reporters on Air Force One on Sunday, Trump gave no deadline for an agreement and did not say where the negotiations would be held or who would take part. He had said earlier that he pulled back from an imminent attack to allow time for a deal to reopen the strait and address Tehran's nuclear program. Iran's Foreign Minister Abbas Araqchi also held calls with Saudi Foreign Minister Prince Faisal bin Farhan and Pakistan's army chief Asim Munir as diplomatic contacts intensified.