US President Donald Trump Says Iran Must Make Deal or Face Renewed Attacks

FXStreetMay 13, 2026 12:16 AM

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US President Donald Trump said that “we have Iran very much under control.” But also reiterated that “we’re either going to make a deal, or they’re going to be decimated,” the New York Times reported on Tuesday.

Meanwhile, Iran’s deputy foreign minister Kazem Gharibabadi stated that Iran’s position was that any peace deal must include reparations for Iran, Iranian sovereignty over the Strait of Hormuz and an end to US sanctions.

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is down 0.31% on the day at $98.35.

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