Trump Calls Off Planned Iran Strike After Saudi, Qatar, UAE Asked Him to 'Hold Off'

President Trump said Tuesday evening he called off a planned military strike on Iran that had been scheduled for Tuesday, after leaders from Saudi Arabia, Qatar, and the United Arab Emirates urged him to “hold off,” adding that “serious negotiations were now underway.” Tehran has not confirmed Trump’s characterization of either the planned strike or the substance of any ongoing talks.

The announcement triggered a modest pullback in crude oil prices. WTI futures slipped toward $103 per barrel in Tuesday’s session, giving back gains after rising above $107 on Monday. Brent eased toward $110 after touching $112.93 at the prior session’s peak. The retreat reflected market repricing of near-term escalation risk, though traders kept a substantial geopolitical premium intact given that the Strait of Hormuz remains effectively closed and structural supply disruption continues.

The Gulf states’ intervention is significant for several reasons. Saudi Arabia is the central producer voice in OPEC following the UAE’s formal departure from the group on May 1; Qatar is a critical LNG supplier with its own exposure to maritime escalation; and the UAE has been positioning itself as one of Washington’s principal Gulf security partners. The three states’ coordinated request signals continued regional preference for diplomatic resolution over kinetic escalation.

The pause does not signal a near-term breakthrough on substance. Iran’s revised peace proposal — delivered via Pakistan earlier this month — includes transferring its 60%-enriched uranium stockpile to Russia rather than the United States, dropping direct financial-compensation demands, and gradually reopening Hormuz in exchange for the U.S. lifting its blockade. Washington has characterized those revisions as “token,” according to Axios sources, and the U.S. continues to insist on either U.S. custody of the uranium or transfer to an unspecified third country.

Beneath the diplomatic surface, contingency planning remains visible. CNN reported the Pentagon has prepared a range of military plans for Iran in case Trump decides to resume attacks. The dual posture — diplomatic engagement via Pakistan combined with publicly visible military readiness — provides Washington with negotiating leverage while constraining Iranian options.

The Strait of Hormuz remains effectively closed despite the diplomatic positioning. Tanker traffic data from Kpler shows transits running at approximately 5% of pre-conflict baseline. Around 1,550 commercial vessels remain stranded in or around the strait with approximately 22,500 mariners trapped, according to the most recent Joint Chiefs update.

Continuing coverage: Geopolitics · Oil Prices · Iran.