Key insights
- President Trump announced a major energy-related concession from Iran, potentially easing tensions around the Strait of Hormuz. While details are scarce, this development suggests ongoing negotiations and a possible de-escalation of hostilities. The immediate impact on US equities is slightly positive, reflecting reduced geopolitical risk in a key oil transit region.
By Bo Erickson
WASHINGTON, March 24 (Reuters) - President Donald Trump said on Tuesday that Iran had made a major energy-related concession to the United States, describing it as a positive development, although he did not give details.
Trump suggested the gift was related to the Strait of Hormuz, the oil transit waterway that the United States has struggled to keep open.
"They gave us a present and the present arrived today, and it was a very big present, worth a tremendous amount of money," Trump told reporters in the Oval Office.
"It wasn't nuclear, it was oil-and gas-related, and it was a very nice thing they did."
Trump, reiterating that he felt the United States had already won the war, indicated that Defense Secretary Pete Hegseth was disappointed as how quickly the campaign had gone.
"Pete didn't want it to be settled," he said, but did not give details.
Trump said the United States was talking to "the right people" in Iran in order to reach a deal to end hostilities, adding the Iranians wanted to reach a deal very badly.
"We're in negotiations right now" over Iran, he said, but would not provide details, particularly on whether U.S. envoys Steve Witkoff and Jared Kushner planned talks this week. He said Witkoff, Kushner, Vice President JD Vance and Secretary of State Marco Rubio were involved in negotiations.
Pakistan has said it is willing to host talks between the United States and Iran.
(Reporting by Bo Erickson, Doina Chiacu and Steve Holland;Editing by David LjunggrenEditing by David Ljunggren)