Donald Trump says "good chance" of Iran deal after US halts airstrikes

Oil prices dropped Monday to their lowest point in over a week after the United States halted airstrikes against Iran over the weekend, fueling expectations that diplomacy could restore shipping through the Strait of Hormuz. President Donald Trump said the U.S. is engaged in productive discussions with Iran and indicated a deal is possible, though he warned of severe military retaliation if talks collapse. The pause followed weeks of escalating conflict that had pushed Brent crude above $100 per barrel and disrupted exports from Saudi Arabia. Meanwhile, Yemen’s Houthis claimed attacks on Saudi oil infrastructure, and Saudi air defenses intercepted drones. Analysts cautioned that the temporary truce has not increased actual oil flows, and shipping traffic through key chokepoints remains sharply limited.