Oil Prices Hold Near $115 as Trump Weighs Deal or Attack on Iran

President Donald Trump told Fox News on Sunday that he is deciding between striking Iran to "finish them off" or reaching a deal with Tehran. The statement comes as international Brent crude oil prices remain near $115 a barrel, a level that has persisted since last week's surge. The high cost of fuel reflects ongoing supply concerns in the Middle East and rising demand as the Northern Hemisphere enters winter.

A U.K. maritime monitor reported on Monday that a tanker was hit by an unknown projectile in the Strait of Hormuz on Friday. The incident disabled the vessel, though the crew was reported safe. This strike occurred after Iran claimed it hit four tankers earlier in the week, claims that Trump questioned in an effort to pressure global markets before U.S. midterm elections.

In Tehran, Iranian Foreign Minister Abbas Araghchi stated that a new round of war would not change his country's diplomatic positions. He said during a televised event that whether or not there is conflict, Iran's policies remain the same. Araghchi noted that the U.S. and Israel have already launched attacks twice and that Tehran believes a repeat would yield the same results.

While direct talks have stalled, Iranian officials confirmed that indirect negotiations are ongoing through intermediaries. Foreign Ministry spokesman Esmaeil Baqaei said the window for diplomacy has not closed. He also dismissed the upcoming Israeli elections, saying it makes no difference who leads the region's governments, as he described them as bringing violence to the area.

Regional leaders are working to de-escalate tensions through face-to-face meetings. Saudi Defense Minister Khalid bin Salman, Pakistani army chief General Asim Munir, and Turkish intelligence chief Ibrahim Kalin are meeting with Iranian security chief Mohsen Rezaei in Tehran on Monday. Saudi Deputy Minister for Public Diplomacy Dr. Rayed Krimly confirmed the delegation's visit, framing it as part of efforts to promote dialogue and support mediation by Qatar and Pakistan.

In Israel, Prime Minister Benjamin Netanyahu warned that Iran and its proxies might attack to disrupt Tuesday's legislative elections. He told the Israeli public that the military is prepared for both defense and offense, citing intelligence that enemies may challenge the country to influence the vote. Defense Minister Israel Katz denied reports of a rift between Netanyahu and army chief Eyal Zamir over strike orders, calling such claims entirely baseless and false.

In Yemen, the Houthis claimed they successfully targeted the Riyadh airport with a ballistic missile hours after it reopened. The Saudi-led coalition said it intercepted the missile and destroyed two launchers in Sanaa. The earlier closure of the airport forced the postponement of a major investment conference until 2027 and disrupted travel for thousands of passengers, highlighting the broader impact of the conflict on regional infrastructure and commerce.