Trump Says U.S.-Iran Deal Possible as Negotiations Resume Over Eight-Month War

Market participants are pricing reduced military escalation risk: Brent crude fell 7.4% to $105.03 on November 2 following Trump's statement. The Strait of Hormuz dispute directly affects ~25% of global oil trade and ~20% of LNG trade; any agreement or resumption of strikes will move energy markets, inflation expectations, and shipping insurance costs. Three days of closed-door Qatar-led talks have not yielded terms, and disagreement between the Trump administration and Israeli leadership on strike resumption remains unresolved. Oil, shipping, and defense contractors are monitoring for policy signals on whether negotiations will proceed or military operations will intensify.