Trump says U.S. nears framework deal to end Iran war

Trump said the White House had moved close to a one-page memorandum that could serve as an initial framework to end the Iran war, but the outline left the central disputes for later. The reported terms included a moratorium on Iranian uranium enrichment, U.S. sanctions relief, the release of frozen Iranian assets and a reopening of the Strait of Hormuz for shipping, even as the broader question of Iran’s nuclear program remained unsettled.

The push came after the war began on Feb. 28, 2026, when the United States and Israel launched strikes against Iran. Since then, the closure of the Strait of Hormuz has choked off about 20% of global oil and liquefied natural gas flows, sending Brent crude up more than 50% at one point and rattling markets far beyond the region. The World Bank warned that the Middle East war could drive a 24% surge in energy prices in 2026 if the acute disruptions eased by May, underscoring how tightly the conflict had become tied to fuel costs and economic pressure.

Trump hardened the tone around the talks with a warning that if Iran did not agree, “the bombing starts.” That line captured how fragile the negotiations remained, with a framework possible but no durable settlement in sight. U.S. military efforts have also focused on reopening the strait, including outreach for international help, reflecting the strategic urgency of restoring a route that carries a major share of the world’s energy supply.

The economic shock has not yet produced a broad U.S. drilling response. Shale executives have stayed cautious about a major production ramp-up despite higher prices, even as some officials pressed producers to increase output. Industry survey data has suggested many executives expect output to rise only modestly over time, limiting hopes that domestic supply alone could offset the disruption.

At the Vatican, Marco Rubio was scheduled to meet Pope Leo XIV at about 11:15 a.m. local time on Thursday. Rubio said he expected to discuss Cuba, religious freedom, Africa and humanitarian aid. The visit came after Trump renewed criticism of the pope over the Iran war, drawing backlash from Christian leaders and widening the political fallout around the conflict.