Iran-US deal talks progress but no immediate agreement as oil prices tumble

Iran warned Monday that despite progress, it's not close to a deal with the US to end the Middle East war, following mixed messages from Washington and Tehran. US Secretary of State Marco Rubio suggested a deal could come 'within the day,' but Iran's foreign ministry spokesman Esmaeil Baqaei responded: 'No one can make such a claim.' Meanwhile, Pakistan's Prime Minister Shehbaz Sharif, mediating between the US and Iran, met China's President Xi Jinping in Beijing. The mixed signals sent global oil prices plunging almost 5%, with Brent crude falling to $99.00 and West Texas Intermediate to $92.10 per barrel. Baqaei confirmed Iran has reached 'conclusion on a large portion of issues under discussion' but stressed the signing of an agreement is not imminent. Iran plans to continue managing maritime traffic through the Strait of Hormuz by charging service fees, arguing these cover navigational and environmental protection services. Earlier, President Trump said he told negotiators 'not to rush into a deal,' while Israeli Prime Minister Netanyahu emphasized any agreement must 'eliminate the nuclear threat entirely.' Nuclear program talks have been deferred until after an initial agreement is reached.

SOURCE: https://www.channelstv.com/2026/05/25/iran-warns-deal-with-us-not-yet-close-despite-some-progress/