Iran deal could take days, Rubio says as US launches strikes

U.S. Secretary of State Marco Rubio said on May 26, 2026 that negotiations toward a possible deal with Iran could take a few days, comments that came as U.S. forces carried out what Washington described as defensive strikes in southern Iran.

The U.S. Central Command (CENTCOM) said the strikes targeted missile launch sites and vessels it said were attempting to lay mines near the Strait of Hormuz, actions described as necessary to protect U.S. forces. At the same time, a senior Iranian delegation was in Doha under Qatari mediation to discuss reopening the strait, Iran’s stockpile of highly enriched uranium and the possible release of frozen Iranian assets.

Markets reacted to the heightened uncertainty: energy traders re-priced risk premia and oil futures saw increased intraday volatility as participants weighed the prospect of resumed commercial traffic through the Strait against the risk of renewed hostilities. Short-term hedging and war-risk insurance premiums were noted as key variables for regional supply routes.

The events must be seen in the context of a months-long disruption that has constrained flows through the Strait of Hormuz, a critical artery for global seaborne oil. Any military action in the area tends to have outsized effects on shipping, insurance costs and global inflationary pressures, underlining how geopolitical dynamics directly influence commodity markets.

Analysts say the timeline remains uncertain: a few days could be enough to finalise language in a memorandum of understanding, but further incidents could derail negotiations and re-tighten markets. Investors are advised to monitor diplomatic signals from Doha, CENTCOM statements, and real-time moves in oil benchmarks while maintaining flexible risk management strategies.