Tehran: Stance Unchanged Regardless of U.S. Strikes

Brent crude prices remained near $115 per barrel early Monday, holding steady as Iranian leaders asserted that their diplomatic positions will not shift even if President Donald Trump resumes military operations. The market stability persisted despite recent supply concerns in the Middle East and approaching winter demand in the Northern Hemisphere.

Iranian Foreign Minister Abbas Araghchi stated at a televised event in Tehran that speculation about new conflict has not altered the government's strategy. Araghchi declared that whether war occurs or not, Iranian policies will remain consistent. He noted that Washington and Israel have attempted similar approaches twice already and predicted they would achieve no different outcome.

President Trump framed the current situation in binary terms during an interview on Fox News' 'Sunday Morning Futures.' He said he faces a decision between finishing the conflict, which he described as easy, or making a deal. Earlier on Friday, Trump suggested the U.S. might conduct another 'little Epic Fury,' referencing the joint campaign against Iran that started on Feb. 28. He also claimed the U.S. controls the Strait of Hormuz and criticized the 2015 nuclear deal negotiated under former President Barack Obama.

Speculation has increased that new strikes could be ordered following Tuesday's midterm elections. The U.S. has deployed additional forces to the region, including a third aircraft carrier group. However, American diplomatic staffing in the area has been reduced. Iranian Foreign Ministry spokesperson Esmaeil Baqaei confirmed that the window for diplomacy remains open. He said messages are still being relayed to the U.S. through intermediaries, though direct talks have appeared stalled for weeks.

Energy markets stayed tense as supply worries tied to the wars in the Middle East and Ukraine persisted. The U.K. navy's Maritime Trade Operations center reported that a tanker leaving the Strait of Hormuz was hit by an unknown projectile on Friday. The projectile disabled the vessel, and the crew was reported safe. Iran claimed to have struck at least four tankers near the strait on Thursday, but those claims were not corroborated. Trump accused Tehran of inventing such attacks to push up prices before the midterms.

Regional powers are moving to ease tensions. Saudi Defense Minister Khalid bin Salman, Pakistani army chief General Asim Munir, and Turkish intelligence chief Ibrahim Kalin were scheduled to arrive in Tehran on Monday. They were expected to hold security talks with Iranian officials, including security chief Mohsen Rezaei. Saudi Deputy Minister for Public Diplomacy Rayed Krimly said the visit supports de-escalation and backs mediation by Qatar and Pakistan. These talks follow eight months of war in the region.

Violence continued in Yemen, where the Saudi-led coalition intercepted a ballistic missile fired by the Houthis toward Riyadh. The coalition also destroyed two missile launchers in Sanaa. The Iran-backed Houthi group claimed it hit Riyadh's international airport with a missile hours after flights resumed. They also said they struck oil pumping stations with drones. Earlier attacks this month had closed the airport for more than two weeks and forced Saudi Arabia to postpone its flagship investment conference until 2027.

In Israel, Prime Minister Benjamin Netanyahu warned on Sunday that Iran and its proxies might attack to disrupt Tuesday's elections. He told the public, 'Don't test us.' Defense Minister Israel Katz rejected a report from Channel 12 claiming a clash between Netanyahu and army chief Eyal Zamir over a new directive. Katz called the report 'entirely baseless,' while Netanyahu described it as 'rubbish.' Iran's foreign ministry stated that the election result makes no difference to Tehran.