Trump says renewed attacks on Iran 'highly unlikely' if talks show progress (Nov 8)
What happened
President Donald Trump told CNN on Sunday, November 8, that it is 'highly unlikely' he will need to order the US back to war with Iran as long as there is progress in negotiations over Tehran's nuclear program and reopening the Strait of Hormuz, repeating the assertion five times during a 20-minute phone interview with CNN's Jim Sciutto. 'It depends on whether or not they sign a very strong agreement,' Trump said. 'The answer is highly unlikely it's going to be necessary.' He added that he was 'not looking to' escalate the war in a separate CBS '60 Minutes' appearance. At the same time, Trump stressed the military option remains on the table, saying three US aircraft carriers are in the region, 'fully locked and loaded,' and that the US has identified 38 bridges and other infrastructure targets inside Iran it could destroy 'in literally one hour.' He also claimed Iran's air defenses have been destroyed and that Tehran retains only about 10% of its missile capacity and 15% of its drone capabilities.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Energy/oil majors and refiners (XOM, CVX) — lower war-risk premium pressures crude prices and energy shares; defense contractors — reduced near-term escalation risk removes a tailwind; airlines and broader equities — cheaper oil and lower geopolitical risk support risk appetite; oil-sensitive sectors broadly — Brent fell 1.8% to $96.54 and WTI fell 1.2% to $89.74 on Monday morning after Trump's remarks.