Trump and Netanyahu Meeting... Oil Prices Plummet Amid Search for Diplomatic Solutions

[Mexico City = Shim Young-jae, Special Correspondent] U.S. President Donald Trump met with Israeli Prime Minister Benjamin Netanyahu at the White House, emphasizing diplomatic solutions over further airstrikes against Iran. With retaliatory attacks between the U.S. and Iran temporarily halted, efforts are underway to normalize shipping in the Strait of Hormuz and resume nuclear negotiations.

According to Bloomberg on the 28th (local time), President Trump discussed the possibility of an agreement with Prime Minister Netanyahu at the White House. While reiterating his previous threat to bomb key Iranian bridges if no agreement is reached, Trump stated, "I would like to do it if we can avoid that."

Emphasis on Diplomacy Over Airstrikes

According to Bloomberg, President Trump assessed in a Fox News interview that the U.S. is currently in a "very strong position" against Iran.

Trump's remarks came four days after the U.S. ended approximately two weeks of attacks against Iran. Previously, the collapse of peace negotiations surrounding the Strait of Hormuz led to renewed military clashes between the U.S. and Iran, with Iran launching retaliatory attacks against Gulf states in response to U.S. strikes.

After both sides temporarily halted attacks, Iran also ceased retaliatory fire aimed at Gulf states. The U.S. appears to have shifted its stance to maintain military pressure while seeking negotiations to prevent the resurgence of war.

The White House has presented preventing Iran from acquiring nuclear weapons and weakening its missile and naval capabilities as key objectives of its military operations against Iran this year. The U.S. government has repeatedly stated its policy of combining military pressure with negotiations.

Israel Supports Trump's Choices

Prime Minister Netanyahu visited Washington to attend the funeral of Senator Lindsey Graham, known for his hardline stance on Iran, and met with President Trump.

According to Bloomberg, Doron Spielman, a spokesperson for Israel, described the meeting as "very good" and stated that Israel fully supports the way President Trump chooses to deal with Iran.

Spielman remarked, "It could be an easy way through negotiations that everyone prefers, or a difficult way using force."

However, it has been reported that the meeting did not discuss the potential sale of U.S. F-35 fighter jets to Turkey or the issue of the Pika Mountain in Iran. The U.S. and Israel suspect Pika Mountain of being related to Iran's nuclear facilities, and President Trump has previously warned that he could attack the area.

Chipi Hotovely, an Israeli official, stated that President Trump did not pressure Netanyahu to expedite military operations in Gaza or withdraw troops from Lebanon.

Resumption of Negotiations in the Strait of Hormuz... Oman Mediating

Diplomatic negotiations to reduce military tensions are also ongoing in the Middle East.

According to Bloomberg, Iranian and Omani negotiators are working towards an agreement to officially resume shipping through the Strait of Hormuz. If successful, this could lay the groundwork for the U.S. and Iran to restart formal negotiations regarding Tehran's nuclear program and ultimately end the war.

The Omani and Iranian delegations held talks in Tehran over the weekend and are continuing discussions. The Omani side is reportedly expecting to announce progress in negotiations within a few days.

However, there are still disagreements in the negotiations. An Iranian government official stated through state media that they are not satisfied with Oman's proposal to jointly control the Strait of Hormuz.

While attacks have ceased, shipping through the Strait of Hormuz remains limited. Many vessels operating with their Automatic Identification Systems turned on are still few. Iran threatens vessels attempting to pass through the strait without its permission, and the U.S. has reactivated maritime blockades to prevent vessels from entering Iranian ports.

Oil Prices Drop Below $84 from $100

As the U.S. and Iran halted attacks, international oil prices have rapidly declined.

According to Bloomberg, Brent crude prices exceeded $100 per barrel during the height of the conflict last week but fell below $84 following the ceasefire.

The drop in oil prices is expected to exert downward pressure on U.S. gasoline prices as well. During the escalation of the Middle Eastern conflict, U.S. gasoline prices surged in line with the summer driving season.

Bloomberg analyzed that the rise in gasoline prices has fueled negative public sentiment among U.S. voters regarding the war, placing political pressure on President Trump and the Republican Party. With the midterm elections in November determining the majority in Congress, stabilizing energy prices is also a crucial issue for the White House.

President Trump has not completely removed military threats. He maintains warnings to strike Iran's key infrastructure if an agreement fails.

However, the recent summit between the U.S. and Israel, Oman's mediating negotiations, and the drop in oil prices indicate that the U.S. is moving towards managing its conflict with Iran through negotiations rather than immediate additional airstrikes.

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