Trump Calls Off Planned Iran Strikes, Nuclear Talks Set to Begin Monday

Here's the headline: after months of a brutal, grinding war with Iran, President Trump says he's calling off a planned attack — and putting negotiations back on the table starting Monday afternoon.

To catch you up on how we got here: The United States and Israel had been planning what would be one of the harshest bombing campaigns to date against energy infrastructure targets in Iran, multiple sources previously told CBS News. Trump was reportedly ready to pull the trigger this weekend, but at the last minute he pumped the brakes. Saudi Crown Prince Mohammed bin Salman spoke with President Trump on Saturday and cautioned him against conducting a fresh round of strikes on Iran, CBS News learned.

So what changed his mind? Trump says a deal is basically done. Mr. Trump said on social media that the deal would "include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran's nuclear threat." Talking to reporters on Air Force One, he went further, saying it would have been the "biggest attacks since World War II" and "It would have been disastrous for them and they didn't want us to do it." He also said "The deal is imminent, having to do with the Hormuz Strait and also, ultimately, the denuclearization of Iran."

Iran's response so far has been a lot more guarded. Iran's defense minister said on X that the country was "neither surprised nor passive" and remains on alert. A regional mediator gave a slightly more optimistic read, telling the AP that the proposal announced by Mr. Trump calls for the U.S. and Iran to return to negotiations.

Why should you care? Because this war has been quietly wrecking the global oil market for months. The Strait of Hormuz is one of the world's most important shipping lanes for oil — it normally carries around a fifth of global crude shipments — and it's been choked off since fighting started. That's part of why gas prices have been up. The news of a possible deal already moved markets: oil prices dropped sharply on the diplomatic optimism, with U.S. crude futures falling nearly 6% and Brent crude down over 5%, according to CNBC's reporting on the developments.

There's also a human cost that's easy to lose in the geopolitics. This conflict has dragged on for months and cost American service members' lives, plus billions in military spending — reason enough for a lot of people to be hoping Monday's talks actually go somewhere this time.

The catch: we've heard "deal is close" before in this conflict, only to see talks stall or get denied outright by Tehran. So while this is genuinely good news if it holds, it's fair to stay a little skeptical until both sides are actually at the table Monday and saying the same thing.