U.S.-Iran Talks: Trump Says 'In Negotiations Right Now' — Markets React

A flurry of statements from the White House and President Donald Trump that talks with Iranian counterparts are “underway” came amid an ongoing U.S.-led military campaign, triggering immediate market attention. Trump’s comment that the sides are “in negotiations right now,” alongside White House reiteration that the military campaign continues, added to market uncertainty.

The situation unfolded against the backdrop of an active operation dubbed “Operation Epic Fury,” with White House press secretary Karoline Leavitt saying the mission was continuing unabated. Major wire reporting indicates regional actors sought to mediate, but Washington publicly signalled caution toward ceasefire initiatives. Some social and local outlets circulated claims that a 15-point proposal had been transmitted to Tehran; those specific claims have not been corroborated by leading international news agencies.

Financial markets reacted swiftly: oil benchmarks jumped as traders priced in supply disruption risks and potential closure of key shipping routes, while gold drew safe-haven flows. Research notes and market data recorded notable gains for Brent and WTI futures in the immediate aftermath, reflecting a higher geopolitical risk premium for energy. These moves have implications for inflation trajectories and central bank policy considerations in the near term.

In a broader geopolitical and economic context, direct military action and Iran’s responses risk prolonging disruptions to shipping through chokepoints such as the Strait of Hormuz, with knock-on effects for global energy supply chains. The combination of military operations and tentative diplomacy complicates risk assessment for investors and could sustain elevated volatility across commodity, currency and equity markets.

Market strategists warn that until verified, enforceable and inspectable terms are announced, risk premia will remain elevated and portfolio managers will prioritise liquidity and hedging. A clear, monitored de-escalation or an internationally backed ceasefire framework would likely relieve energy prices and restore some risk appetite; absent that, volatility and defensive positioning are expected to persist.