Trump Says He 'Not Looking' for an Iran Deal as U.S. Weighs Renewed Large-Scale Military Operations
AI Market Summary
Trump's comments downplaying interest in a deal with Iran, alongside reports of potential renewed largescale U.S. military operations targeting Iranian energy and infrastructure, elevate geopolitical risk premia in crude. Even as Gulf-region exports (ex-Iran) near pre-conflict levels, the market remains sensitive to disruption risk and uneven normalization of flows. Near-term volatility in energy-linked assets and inflation-sensitive rates markets is likely to stay elevated.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+1.90%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Oct. 7—U.S. President Donald Trump said he is currently 'not very interested' in reaching an agreement with Iran, even as his team considers stepping up military pressure in the weeks ahead.
NBC News reported that Trump and his national security team have discussed the possibility of resuming large-scale military action against Iran. Axios said options under review could include 'massive bombings' aimed at Iran's energy assets, infrastructure and nuclear facilities.
Speaking at a campaign event in San Antonio, Texas, Trump said Iran is willing to offer 'anything' to end the conflict, but he does not want a deal at this time. He noted that U.S. Special Envoy for the Middle East Steve Witkoff is actively advancing talks and is 'doing a great job.'
Recent U.S.-Iran talks have highlighted sharp differences. Vice President J.D. Vance said Iran would need to dramatically scale back uranium enrichment capacity to meet U.S. conditions for ending the war. Iran has accused U.S. officials of sending mixed signals and maintains that its right to enrich uranium is not negotiable.
The conflict continues to shape Middle East energy markets. Data from Kpler show that crude exports through the Gulf—excluding Iran—together with shipments from Saudi Arabia and the UAE, have rebounded to about 18.5 million barrels per day, near pre-conflict levels, though oil prices remain elevated. Kpler analysts said that even without a new diplomatic agreement, oil flows could gradually recover through operational adjustments, but the process is likely to be slower and uneven.
