Tehran Says Policy Stays Fixed as Brent Crude Holds Near $115

Brent crude remained near $115 a barrel early Monday as Iranian leaders insisted their strategic posture would not change, regardless of whether President Donald Trump orders new military strikes. The statements followed a weekend of heightened tensions in the Middle East, where supply concerns and recent tanker attacks kept energy markets on edge.

The conflict began with the joint U.S.-Israeli campaign against Iran on Feb. 28. Since then, the situation has fluctuated between diplomatic efforts and military threats. President Trump suggested on Friday that the U.S. might launch another "little Epic Fury" strike. He framed his upcoming decision starkly in a Fox News interview on Sunday, asking, "Do I finish it off, which would be very easy to do, or do I make a deal?"

Iranian Foreign Minister Abbas Araghchi addressed the threats at a televised event in Tehran on Sunday. He stated that the prospect of war has not altered his government's thinking. "Whether there is war or not, our policies remain the same," he said. Araghchi added that Washington and Israel had tried their tactics twice already and would achieve no different outcome. Foreign ministry spokesperson Esmaeil Baqaei confirmed that indirect contacts with the United States are still under way, though direct talks have appeared stalled for weeks.

Speculation has grown that Trump could order new strikes after next Tuesday's midterm elections. The U.S. has sent additional forces to the region, including a third aircraft carrier group, even as diplomatic staffing has been reduced. Energy prices rose sharply late last week due to supply worries tied to the wars in the Middle East and Ukraine, with Northern Hemisphere winter demand approaching.

The Maritime Trade Operations center, known as UKMTO, reported on Monday that a tanker leaving the Strait of Hormuz was hit on Friday by an unknown projectile. The crew was safe, but the vessel was disabled. Iran had claimed to strike at least four tankers near the strait on Thursday, a claim Trump accused Tehran of inventing to push up prices before the midterms.

Regional powers are attempting to ease the situation. Saudi Defense Minister Khalid bin Salman, Pakistani army chief General Asim Munir, and Turkish intelligence chief Ibrahim Kalin were due in Tehran on Monday for security talks. They are scheduled to meet 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 discussions 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 Houthi group claimed it hit Riyadh's international airport with a missile and 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 them, "Don't test us." Defense Minister Israel Katz rejected reports of a clash between Netanyahu and army chief Eyal Zamir over a new directive, calling the reports "entirely baseless." Iran's foreign ministry stated that the election result makes no difference to Tehran.