US-Iran Doha Talks See Divergence, Trump Says Iran Requested Negotiations, WTI Crude Returns to $70 Mark

TradingKey — On June 29, Eastern Time, a clear divergence emerged in the statements of the US and Iran regarding whether the two sides will hold talks in Doha on the 30th.

US President Trump posted on the social media platform Truth Social that day, claiming that Iran had requested talks and that "the talks will be held tomorrow in Doha (Qatar)." White House Press Secretary Leavitt subsequently confirmed to the media that US Presidential Envoy Witkoff and Trump's son-in-law Kushner "will fly to Doha this week" to participate in high-level US-Iran talks.

[Source: Truth Social]

However, the Iranian side gave an opposite response. Iranian Deputy Foreign Minister Gharibabadi stated that day that reports of Iranian-US technical negotiations taking place in Doha this week "are not true." Gharibabadi said that consultations between Iran and Qatar are still ongoing, and the technical talks will only officially take place once an agreement is reached on the date and location.

The divergence comes against the backdrop of a renewed escalation in military conflict between the US and Iran over the past few days.

The US military launched strikes against targets inside Iran for two consecutive days on June 26 and 27, targeting Iranian military surveillance facilities, communications systems, air defense positions, and drone storage facilities. US Central Command stated that the operation was a direct response to "Iran's continued actions against commercial vessels." Previously, a Panamanian-flagged tanker was hit by an Iranian attack drone near the Strait of Hormuz.

The Iranian side retaliated immediately. The Islamic Revolutionary Guard Corps (IRGC) issued a statement on June 28, claiming it had used missiles and drones to destroy eight key US military infrastructure sites located at the Ali Al Salem Air Base in Kuwait and the US Fifth Fleet in Bahrain. The Iranian Ministry of Foreign Affairs stated that the US military action was a clear violation of the memorandum of understanding previously reached between the two sides, and that Iran responded in accordance with its inherent right to national self-defense.

According to a report by Axios, the US and Iran were originally scheduled to hold negotiations in Switzerland on June 30, but the venue was moved to Doha due to the re-escalation of the situation, with the focus of the talks shifting from the Iranian nuclear program to the Strait of Hormuz issue. The report stated that both sides have agreed to cease mutual attacks.

However, the latest statement by Iran's deputy foreign minister has cast doubt on whether the talks will take place as scheduled.

Against the backdrop of escalating military conflict and contradictory diplomatic statements, international oil prices rebounded on Monday. As of press time, WTI crude oil futures rose 1.29% intraday to $70.12 per barrel, while Brent crude rose 1.05% to $73.36 per barrel. Since last Thursday, several vessels have been attacked in the Strait of Hormuz, and shipping activity has slowed down significantly.

[Source: TradingView]

While military conflicts escalated, both sides also signaled some de-escalation. According to Iranian media reports, Iran has resumed flights from Tehran to Dubai, with tickets available for a flight to Dubai at 10:40 AM on June 29. In addition, Iranian President Pezeshkian stated that day that Qatar will unfreeze approximately $6 billion in frozen Iranian assets.

Whether the Doha talks can take place as scheduled on the 30th remains an unknown. Diplomatic communication between the US and Iran after the ceasefire is still undergoing dynamic adjustments. The resumption of shipping in the Strait of Hormuz and the future direction of oil prices will depend on the final outcome of this diplomatic maneuvering.