US Launches Limited Strikes on Iran as Trump Talks Deal and Midterms Arrive

The United States military carried out limited strikes on Iran's Qeshm Island in the Strait of Hormuz, according to American officials, as voters prepared to cast their ballots in midterm elections. US officials described the operation as defensive, stating it was launched after the Iranian Islamic Revolutionary Guard Corps fired upon a US aircraft. Iranian state news agency IRNA reported multiple explosions on the island on Monday, while the Revolutionary Guard claimed its forces had shot down three American drones in the region.

The military action coincided with contrasting signals from Washington regarding the ongoing conflict. President Donald Trump stated in an interview that he was in no rush to escalate attacks, claiming that financial pressure had severely weakened Iran. However, Trump also suggested that the US might target Pickaxe Mountain, an underground site linked to Iran's nuclear program, asserting that such an operation could be completed quickly. Meanwhile, regional officials reported that Israeli Prime Minister Benjamin Netanyahu had pushed Trump during a weekend phone call for another wave of strikes following the midterms.

Financial markets reacted swiftly to the shifting news landscape. On Truth Social, President Trump declared that oil prices were dropping significantly because people believed a war with Iran would be avoided and that Tehran wanted a settlement. Brent and West Texas Intermediate crude oil futures experienced notable declines, while major energy stocks and related funds also fell as investors weighed the mixed signals between military escalation and diplomatic negotiations.

Diplomatic channels remain active as Qatari and Pakistani mediators facilitate indirect talks between Washington and Tehran. Qatari foreign ministry spokesman Majed al-Ansari stated that both parties are reviewing proposed ideas and working toward an interim agreement. Iranian Foreign Minister Abbas Araghchi confirmed that intensive consultations are underway, and Iranian officials have indicated readiness to reopen the Strait of Hormuz under specific conditions, including the lifting of naval blockades and the release of frozen assets.

Tensions remain high on the ground in Iran, where municipal authorities in Tehran unveiled a large billboard in Enghelab Square depicting President Trump behind prison bars with threatening language. Additional displays and public demonstrations have appeared across the capital calling for revenge over the death of former supreme leader Ayatollah Ali Khamenei, who was killed during the initial US and Israeli strikes in February.

As the diplomatic process continues, Iranian parliament speaker and chief negotiator Mohammad Bagher Ghalibaf stated in a televised address that the responsibility to prevent further war rests with the United States. While both American and Iranian leadership have expressed openness to dialogue, analysts and international observers continue to monitor the fragile negotiations amid lingering uncertainty over the future of the conflict.