2026 Iran-Gulf Crisis Tracker
CC
Events Archive
strikeJun 18, 2026

Inside the chaotic Iran talks that let Trump claim victory, but not yet peace

Summary

Hours earlier, around when he was gathering for a birthday dinner with family inside the White House, Donald Trump had fired off a social media post announcing a deal to end the Iran War he’d started nearly four months earlier: “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” he declared on Truth Social. “Ships of the World, start your engines. Let the oil flow!” Also read: Trump signs Iran ceasefire deal, warns of renewed bombing if Tehran violates pact But as with so much of the war, Trump’s rhetoric ran ahead of the facts on the ground. The text hadn’t been released, the formal signing was still days away and the hardest questions – nuclear, sanctions, Lebanon – had been kicked down the road. It almost didn’t happen. That morning around 6:45am in Washington, Israel bombed southern Beirut – exactly the kind of move that Iranian negotiators warned would blow up the talks. Israel said it was responding to projectiles fired by Tehran-backed Hezbollah. Across the West and the Gulf, critics saw something else: a last-ditch effort by Prime Minister Benjamin Netanyahu to scuttle a deal he’d been shut out of. Iran balked, but four hours later, Trump took to social media to criticize the Israeli attack, which he said “should not have happened.” His frustration with his wartime partner was no longer secret. He told Axios that afternoon that the signing was delayed a few hours because of the strikes, and that he’d called Netanyahu to berate him over it. “I was so pissed off. I let him know,” he said in a expletive-laden tirade. Within a few days, the US president would be echoing some of Israel’s staunchest critics. But first he needed Iran to agree to sign. Three hours later, Trump had the thing he’d been promising for months: a deal, or at least the framework for one. There were no details beyond leaked drafts that suggested a financial bonanza for Iran: immediate oil waivers, potentially imminent sanctions relief, and a possible $300 billion reconstruction fund backed by Gulf money. For Washington, the gains were narrower: a reopened Hormuz, an end to the fighting, and another pledge that Iran wouldn’t pursue a nuclear weapon. The war had already cost the US tens of billions of dollars, strained munitions stocks and its alliances, sent pump prices soaring and roiled the global energy market – all to achieve a deal that risks falling short of the JCPOA struck by President Barack Obama that Trump had long criticized and tore up during his first term. As the cage emptied on the South Lawn, Trump prepared to fly to the Group of 7 meeting in Evian, France, where European leaders were ready to lavish praise on a deal they had not read. This account is based on interviews with Western and Middle Eastern officials familiar with the talks, who requested anonymity in order to discuss sensitive matters, as well as draft language, White House talking points and contemporaneous accounts of the mediation efforts. As UFC fighters spattered blood on the canvas in front of the White House, Qatari mediators were in Tehran grinding through 17 hours of shuttle diplomacy, carrying messages between Iranian officials and the Americans, according to people familiar with the discussions. It was the culmination of four weeks of quiet mediation the wealthy Gulf state had undertaken at the request of both sides, each seeking a deal to end the war that had become a burden back home. Until mid-May, Qatar had played a supporting role, alongside Pakistan, Egypt and Turkey, in the search for an off-ramp. Doha had long made itself indispensable as a regional intermediary, but it had deliberately avoided taking the lead here, in part because Tehran had targeted it and its Gulf neighbors, including hitting the $20 billion Ras Laffan LNG facility, the people said. But after Tehran and Washington asked it to get involved more directly, it secretly sent a delegation to Tehran – via Turkey, in order to evade detection – led by senior mediators Ali al-Thawadi and Hamad al-Kubaisi, to get a better understanding of Iran’s position, the people said. They were in Tehran working on the contours of a deal on May 17 when Trump again publicly floated bombing Iran, posting on Truth Social that “the clock is ticking” for Iran. The next day, he said he’d told his military to call off “the scheduled attack of Iran tomorrow,” at the request of the leaders of Qatar, Saudi Arabia and the UAE, because “serious negotiations are now taking place.” On May 19, the Qataris flew directly to Washington, again without publicity, where they met with Vice President JD Vance, and Trump’s lead negotiators, son-in-law Jared Kushner and real estate magnate Steve Witkoff, the people said. Soon after they departed, according to the people, the Qataris and Pakistanis heard from two Western states that Israel was considering attacking Iran. It would mark yet another potential spoiler, but after a US intervention, Israel backed down. The Qataris landed back in Tehran on May 22, later joined by Pakistan’s army chief, Field Marshal Asim Munir, who spent hours locked in discussion with Iranian Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi. The key issues were Iran’s demand for a commitment to permanently end the war, Tehran’s willingness to discuss handing over its highly enriched uranium, and the fate of the Strait of Hormuz. Iran agreed to commit to discuss diluting the uranium or handing over the stockpile. In return, the US agreed to a phased process of sanctions relief tied to the progress of talks towards a final deal – an extraordinary financial lifeline for a regime under severe economic pressure. Two days later, Ghalibaf and Araghchi flew to Doha, along with Iran’s central bank governor, the people said. But they left without signing. In Washington, Trump was growing increasingly impatient, so the Qataris travelled to Miami, where they spent a day in talks with Witkoff and Kushner in a bid to keep the process on track. Meanwhile, Israel’s invasion of Lebanon kept bleeding into the Iran talks. It had already killed thousands and displaced more than 1 million people, a fifth of the population, while Hezbollah fire kept northern Israel under threat, and Netanyahu insisted on full autonomy to pursue the war. As May wore on, Trump’s anger increasingly shifted from Tehran to Jerusalem. Netanyahu, backed by widespread domestic support, insisted that he would continue to bombard Lebanon. As Israel continued to ramp up its campaign, Trump exploded at his Israeli counterpart in a profanity-laced phone call in which he told Netanyahu he was “crazy,” as first reported by Axios and later confirmed by the president. But talks were continuing behind the scenes. The war, never widely supported in the US, was becoming harder to defend, as inflation accelerated in May to the fastest pace in more than three years amid spiking gas prices. Since the start of the conflict, the closing of the Strait of Hormuz and Iran's attacks on regional energy infrastructure have whipsawed oil prices, even after the first ceasefire was agreed in April. While prices have declined in recent weeks as the two sides negotiated a peace deal, both crude futures and the price of gasoline at the pump remain well above pre-war levels. Trump sounded increasingly keen for a deal – any deal – to end the conflagration that threatened to consume his second term. Americans have grown increasingly dissatisfied with his stewardship of the economy, polls show, putting his Republican Party at risk of losing control of Congress in November's midterm elections. “The one president I did not want to be was the late great Herbert Hoover. I didn't want that, and who knows what would have happened,” Trump said on Wednesday. Meanwhile, Iran – its leadership bloodied, its military battered – was preparing its own story of victory. The war had killed the Supreme Leader and scores of the regime’s upper ranks, and exposed how vulnerable the Islamic Republic had become. But it had survived, and in doing so revealed new strengths that led to a potential deal it could legitimately frame as a win: oil sales, sanctions relief and reconstruction money even before the nuclear question was settled. The first week of June nearly destroyed the talks – Israel and Lebanon agreed to a ceasefire, but Hezbollah and the Israeli military continued firing on each other. Then Israel struck Beirut, and began trading fire with Iran. The next day, Trump, clearly frustrated by having to constantly publicly and privately urge Netanyahu to back off Lebanon, told the Financial Times that his Israeli counterpart would be forced to accept any deal he struck. “I call all the shots,” he said. He reportedly called Netanyahu that night to tell him to back down. But Israel fired on Iran the next morning anyway, and he was back on Truth Social, demanding an end to the fighting. Then, on June 9, an American Apache helicopter crashed near the strait after being hit by an Iranian drone, and Trump vowed to retaliate. The two sides exchanged fire over the next two nights, and on the 11th, the US struck targets in southern Iran – when the Islamic Republic closed its airspace, the Qatari mediators were left stranded on the runway. But they made it out, and when they arrived in Doha, regional leaders pressed Trump to hold off on further strikes, trying to convince him that a good deal was almost finalized, the people said. Netanyahu stepped out of a meeting with key ministers to take a call from Trump with the news a deal was close. Two days later, as UFC fighter Ilia Topuria was shoving Gaethje during a press conference in front of the Lincoln Memorial, Trump said the agreement would be signed on Sunday – and the Qatari negotiators flew back to Tehran for one final push. Over the course of 17 hours of negotiations, the team from Doha repeatedly threatened to walk as the Iranians pushed for further tweaks to the language of the framework deal, the people said. They were on the verge of an agreement when Netanyahu made the move that nearly broke the talks. Israeli airstrikes ripped through southern Beirut in response to Hezbollah firing on northern Israel. The move backfired – Trump called on Israel to stop, and the US offered Tehran a last-minute sweetener, according to one of the people: the US would immediately lift its blockade on Iranian ports, instead of the phased 30-day withdrawal envisioned in the original terms. In Israel, the response was furious – politicians across the ideological spectrum slammed Netanyahu for turning the country into a vassal of the US, and called his stewardship of the conflict a total failure. They decried Trump’s “betrayal.” The prime minister had pushed for the war for decades, arguing that his tight relationship with Trump was the only way to secure Israel’s future. Now with an election looming this fall – which could also decide his fate in a long-running corruption trial – that closeness had become a liability. Netanyahu had quietly dropped Israel’s initial demand that any deal include major steps to curb Iran’s missile program and proxy network, betting that the war had degraded both significantly. Israel is counting on the final deal to require Iran’s highly enriched uranium to be removed from the country, according to a person familiar with officials’ thinking, and would see anything short of that as a failure. But he’s promised Israelis that he would protect them from Hezbollah, a group that’s publicly called for his country’s destruction and fired thousands of rockets across the border. It took Netanyahu a full day to comment publicly on the deal, and when he did, he tried to emphasize his independence. “There are cases in which President Trump and I do not see eye to eye,” he said at a press conference on Monday. Trump was making that increasingly clear. By Tuesday, the president came close to echoing the prime minister’s harshest critics. “You don’t have to knock down an apartment house every time you’re looking for somebody,” Trump said on the sidelines of the G7. “There are a lot of people in those apartment houses and they’re not all Hezbollah.” In Evian, US allies were largely flying blind and kept it light. Their aim: don't upset Trump, focus on Iran and keep the reservations they were harboring about the deal private. At one point, while waiting for him to arrive at a working session, Italy's Giorgia Meloni shared with her cohort how she quit smoking. Quite a few of them had sparred with Trump and were looking to patch things up. She was one of them. Meanwhile, Trump was in a good mood. Canada's Mark Carney, whose country Trump often likes to refer to as the 51st US state, shared a joke with his southern neighbor. He was seen pointing out that host Emmanuel Macron had left his watch on the table. "Gimme," said Trump jokingly. Back home, Trump’s administration was trying to sell a deal that seemed to many observers to be a resounding defeat for the US. The administration drew up talking points on the MoU with five messages: Iran won’t ever have a nuclear weapon; Trump ended fighting on every front including Lebanon; Iran’s “rewards” weren’t coming from US taxpayers; Hormuz was open, toll-free; and the fact that “Obama never even got a signed document.” In Tehran, state media cast the framework as proof that Iran had brought the US and Israel to heel. The regime had paid dearly, but it had withstood both the region’s and the world’s greatest military powers and after 4 months of war had emerged battered but in at least one way stronger than before, with an economic weapon arguably more important than any nuclear bomb – an on-off switch for the Strait of Hormuz. As of Sunday, it had a deal that could see sanctions lifted and billions in assets unfrozen – via Qatar – in return, it just had to agree to abandon its ambitions for a nuclear weapons, something it’d done a decade earlier in the Obama deal. As he was wheels up, headed for a dinner fit for a king in the Palace of Versailles, the president kept people guessing whether in fact he might show up in person for the signing. “This way if it works out, I'm going to take the credit,” Trump said. “If it doesn't work out, I'm blaming JD.” He saved the biggest surprise of all to the end by actually signing the deal in Versailles, a historic location where the treaty formally ending World War I was also signed. It was an unexpected twist to the week, leaving G7 observers wondering whether Macron, looking to cement his own legacy, had planned it this way with Trump all along. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Actors involved

USIsraelIranProxy

Sources

  • CurrentsAPI

    Hours earlier, around when he was gathering for a birthday dinner with family inside the White House, Donald Trump had fired off a social media post announcing a deal to end the Iran War he’d started nearly four months earlier: “The Deal with the Islamic Republic of Iran is now c…

See this event through different lenses

Compare how Western, Iranian, Israeli, Global South, and Pro-Peace perspectives frame this event.

Compare Perspectives

Community Notes

Community Notes

Loading notes...

Related events

strikeUnverifiedUSIranProxy
○ 1 source

The government has said the UK is “ready to defend itself” after Iran’s military warned that any bases being used by the US were “legitimate targets”. The UK has allowed the US to launch “defensive” operations from British bases hosting American planes since the start of its war on Iran but has refused to help in offensive operations.

That policy has not been altered by the new prime minister, Andy Burnham, who was notified last week that a decision had been made to extend the agreement with the US. Iran’s Islamic Revolutionary Guard Corps said on Thursday that “any base used for aggression against Iranian territory constitutes a legitimate target for our forces”.

In a statement published on the IRGC-linked Tasnim news agency, the group said American bombing missions had been launched from RAF Fairford in Gloucestershire two days earlier. The statement came after the US carried out a 12th consecutive night of strikes against targets in Iran.

The Ministry of Defence has not commented on whether Fairford was used by the US for operations against Iran this week. The IRGC also accused the “British monarchy regime” of causing being the “primary cause of hardships in our region with a black record of partitioning Islamic nations, widespread massacres, imposing despotic regimes, and organising the occupation of Palestine”.

It warned the government “not to weigh down its record any further”. A spokesperson for the British government said: “Our armed forces are ready to keep the United Kingdom safe from any kind of attacks, whether it’s on our soil or from abroad. The UK stands ready 24/7 to defend itself.

“This includes through operating a layered approach to air and missile defence, provided by Royal Navy, British Army and Royal Air Force assets equipped with a range of advanced capabilities, working closely with our Nato allies. “We are committed to defending our people, our interests and our allies, acting in accordance with international law and not getting drawn into the wider conflict.

” On 1 March a drone struck the RAF base at Akrotiri in Cyprus, hitting a hangar, and prompting a partial evacuation of the facility. On 19 March, Iran fired two ballistic missiles at the UK’s Diego Garcia base in the Chagos Islands. One reportedly failed mid-flight, while the other was shot down by a US airship.

Iran has launched strikes against countries in the Gulf that house US military bases, including Bahrain, the United Arab Emirates and Kuwait, killing American service personnel in some of the attacks. Donald Trump said Iran would “pay a big price” for killing US troops.

On Thursday afternoon, the US president said he was considering ordering a “massive attack” on Iran. “I am close to making a decision,” he told Axios. “We’re all set for it.” He said he believed Iran’s leaders “want to negotiate”, but aren’t yet ready to make a deal.

In another sign of the conflict potentially escalating, Yemen’s Iran-backed Houthi rebels said they attacked two Saudi oil tankers in the Red Sea on Thursday, as oil topped $100 a barrel.

strikeUnverifiedUSIranProxyRussia
○ 1 source

September WTI crude oil (CLU26) on Thursday closed up +5.36 (+6.17%), and September RBOB gasoline (RBU26) closed up +0.0793 (+2.44%). WTI crude oil prices (CLU26) rallied more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea.

Sep Brent crude oil prices (CBU26) on Thursday rallied above $100 per barrel for the first time since May. President Trump said in an interview with Axios on Thursday that he is considering a “massive attack” that would be “bigger than ever before” and is “close to making a decision on it.

”Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis. The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt.

Meanwhile, the US and Iran exchanged attacks for the 12th straight day, and the US maintained its blockade of Iranian oil shipments in the Persian Gulf. Global crude oil supplies are tightening due to reduced flows through the Strait of Hormuz. The International Maritime Organization warned last Wednesday that it is too dangerous to cross the Strait of Hormuz at the moment, and visible transit through the strait has fallen sharply as Iran continues targeting tankers attempting to transit it.

Crude prices also have support as Ukraine intensifies drone attacks on Russian oil infrastructure. Russian crude production fell to 8.928 million bpd in June, the lowest in 2.5 years, according to monthly OPEC data. According to EA Analytics, Russian crude-processing rates will average 3.

51 million bpd in July, the lowest in 24 years, amid damage to Russian energy infrastructure caused by drone and missile attacks from Ukraine. According to Bloomberg, Ukrainian forces have attacked Russian fuel-producing facilities more than 50 times this year, hitting at least 24 of Russia’s 34 largest refineries.

As of the end of June, around 90% of Russian regions have imposed some form of fuel rationing or reported supply issues, as refining capacity has plunged following damage to facilities. The strikes have deepened a nationwide gasoline shortage, with several major refineries shut down and the government banning almost all gasoline, jet fuel and diesel exports.

Russia is the world’s number two diesel exporter, after the US, according to Vortexa. Stronger Russian crude exports are also adding to global oil supplies, which is bearish for prices. Data compiled by Bloomberg show the four-week average of Russian crude exports rose to 4.

13 million bpd through June 28, the highest since Russia invaded Ukraine in 2022. Russia may be boosting its crude exports as the country’s refining capacity has plunged due to damage at its refining facilities from Ukraine drone and missile attacks.

The outlook for higher US crude output is negative for oil prices. The Department of Energy (DOE) on July 7 raised its US 2026 crude production estimate to 13.78 million bpd from a June estimate of 13.72 million bpd. As a bearish factor for crude, OPEC delegates said on May 14 that the cartel aims to continue a series of oil quota increases over the next few months, completing the return of halted oil production by the end of September.

The group already formally agreed to restore about two-thirds of the 1.65 million bpd supply cutback it made back in 2023 and said it plans to raise output targets further and to revive the final portion in three more monthly stages. On July 5, OPEC+ said it will boost its crude output by 188,000 bpd in August, though that increase might prove difficult due to revived US-Iran military attacks in the region.

OPEC’s June crude production rose by +2.34 million bpd to 18.75 million bpd. Vortexa reported on Monday that crude oil stored on tankers that have been stationary for at least 7 days rose +31% w/w to 90.03 million bbl in the week ended July 17. Wednesday’s weekly EIA report was mostly negative for crude oil and products.

EIA crude inventories unexpectedly rose +2.01 million bbl versus expectations of a -1.95 million bbl decline. Also, EIA gasoline supplies rose by +765,000 bbl versus expectations of a -1.9 million bbl decline. In addition, EIA distillate stockpiles rose by +1.

4 million bbl, a larger build than expectations of +825,000 bbl. On the positive side, crude supplies at Cushing, the delivery point for WTI futures, fell -624,000 bbl. Wednesday’s EIA report showed that (1) US crude oil inventories as of July 17 were -5.

3% below the seasonal 5-year average, (2) gasoline inventories were -7.1% below the seasonal 5-year average, and (3) distillate inventories were -9.6% below the 5-year seasonal average. US crude oil production in the week ending July 17 fell -0.5% w/w to 13.

798 million bpd, just below the record high of 13.862 million bpd posted in the week of November 7. Baker Hughes reported last Friday that the number of active US oil rigs in the week ended July 17 rose by +7 to a 13-month high of 452 rigs, up from the 4.

25-year low of 406 rigs posted in December 2025. However, the number of US oil rigs remains sharply below the 5.5-year high of 627 reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article.

All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

strikeUnverifiedUSIsraelIran
○ 1 source

TEL AVIV, July 23. /TASS/. The Israel Defense Forces (IDF) will deal "a crushing blow" to Iran, if it attacks the Jewish state, Defense Minister Israel Katz warned, according to the Ynet portal. "We are ready for any development of events. If Iran attacks Israel, we will deal a crushing blow," he said.

Earlier on Thursday, US President Donald Trump said that he was considering carrying out a massive attack on Iran, and the strikes would be harder than before. According to the American leader, Israel will "join the attack in two minutes" if requested by the United States.

However, he added that Washington "does not need anyone" to launch a new military operation. Trump did not specify a deadline for making a decision. The United States and Israel started a war with Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon.

However, on the night of July 8, the United States resumed large-scale strikes against Iran, accusing it of violating the terms of the agreements regarding the Strait of Hormuz.

strikeUnverifiedUSIsraelIran
○ 1 source

The British government stated that it stands ready to defend itself following Iranian comments designating UK bases hosting US forces as legitimate targets in response to US military strikes on Iran. Iranian officials described the UK as an accomplice to US operations, while UK policy has allowed US use of bases such as RAF Fairford and Diego Garcia for what the UK has termed defensive purposes.

Permissions for this arrangement, first granted in March, were extended under the current UK government.

Location: Iran