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Rubio Says Solid Iran Deal May Come Monday as Oil Prices Fall
Published: 25 May 2026 | Source: US State Department, Truth Social, CBS News, BBC Radio 4, Vespucci Maritime
DELHI — Secretary of State Marco Rubio said Monday that US and Iranian negotiators have “a pretty solid thing on the table” and a deal may be reached later in the day, sending oil prices sharply lower and Asian stock markets higher in morning trading. Rubio says solid Iran deal may come Monday as oil prices fall during a visit to the Indian capital, where he cautioned “we’re still a work in progress” and that “it takes a little while to hear back from Iran.” The reported deal includes a 60-day ceasefire extension, the reopening of the Strait of Hormuz, and a framework for further negotiations over Iran’s nuclear programme.
What Rubio Said
“We have, what I think is a pretty solid thing on the table in terms of their ability to open up the Straits,” Rubio told reporters in Delhi, referring to the Strait of Hormuz the crucial waterway through which 20% of the world’s oil and liquefied natural gas passes and which Iran has been blocking since the conflict began US State Department press briefing, 25 May 2026.
Rubio added, “I wouldn’t read too much into it. It takes a little while to hear back from Iran.” He said the US had thought there might be news on Sunday night, with Monday now a possibility.
The comments came after President Donald Trump said on Sunday he had instructed negotiators “not to rush into a deal” because “time is on our side.” Trump reiterated that Iran “must understand” it cannot develop a nuclear weapon and said the blockade on Iranian ports would remain until an agreement is signed.
Iranian foreign ministry spokesperson Esmail Baghaei said at the weekend the two sides were “very close and very far” from reaching an agreement Iranian Foreign Ministry statement, 24 May 2026.
The Reported Framework
According to US media reports, the mooted deal is not a final settlement. It leaves the thorniest issues to be negotiated later, including the scope and timing of Iranian sanctions relief, the release of frozen Iranian funds, and Washington’s demands for Iran to curb its nuclear ambitions.
House Speaker Mike Johnson told Fox News the proposal would “allow 60 days to get all the details done” and said Trump’s “number one condition is Iran can’t have a nuclear weapon.”
The deal has split Trump’s Republican Party. Senator Ted Cruz called it “a disastrous mistake.” Roger Wicker, who chairs the Senate Armed Services Committee, said a 60-day ceasefire would mean “everything accomplished by Operation Epic Fury would be for naught.” Senator Lindsey Graham, a close Trump ally, questioned: “Why did the war start to begin with?”
Trump responded on Truth Social: “I don’t listen to the losers, who are critical about something they know nothing about. If I make a deal with Iran, it will be a good and proper one” Donald Trump Truth Social post, 25 May 2026.
The Republican split on the Iran deal loyalty versus ideology
The Communication Gap
CBS News, the BBC’s US partner, reported that US intelligence believes Iran’s Supreme Leader, Mojtaba Khamenei, injured in the Israeli strike that killed his father on the first day of the war, is holed up in an undisclosed location, making communication with his envoys difficult and delaying the pace of talks CBS News report on Khamenei, 25 May 2026.
The communication constraint is not a diplomatic tactic. The man whose approval is required for the broad template of any agreement cannot communicate freely with the negotiators tasked with finalising it.
Markets React, Supply Chains Wait
Brent crude dropped sharply in Asian trading on Monday morning as Rubio’s comments raised hopes of a deal. Asian equities rose. The market is priced in peace.
However, Lars Jensen, chief executive of Vespucci Maritime and a former director of shipping company Maersk, told BBC Radio 4’s Today programme that even if a deal were announced in the coming days, the shipping industry would remain “cautious and hesitant” to make “major operational changes” BBC Radio 4 Today programme interview, 25 May 2026.
“It could be months before the shipping industry will be able to go back to supply chains that are physically in the same shape as they were before the crisis,” Jensen said.
The gap between the market’s instant repricing of risk and the physical supply chain’s need for operational certainty means the 20,000 seafarers trapped on approximately 850 vessels inside the Gulf will not return home the day a deal is signed.
The Strait of Hormuz crisis how a waterway became a sovereignty laboratory
FAQ: Iran Deal Negotiations 25 May 2026
What did Marco Rubio say about the Iran deal?
Rubio said negotiators have “a pretty solid thing on the table” and a deal may be reached on Monday. He cautioned, “We’re still a work in progress,” and said it takes time to hear back from Iran.
Why did oil prices fall?
Brent crude dropped sharply in Asian trading after Rubio’s comments raised hopes that a deal would reopen the Strait of Hormuz, through which 20% of the world’s oil passes.
What is in the reported deal?
The framework reportedly includes a 60-day ceasefire extension, the reopening of the Strait of Hormuz, and further negotiations on Iran’s nuclear programme. Thornier issues, including sanctions relief and frozen assets, are deferred.
Why are Republicans split on the deal?
Senators Cruz, Wicker, and Graham have criticised the reported terms. Trump dismissed them as “losers” and said any deal he makes will be “a good and proper one.”
Why is communication with Iran’s Supreme Leader difficult?
CBS News reports that US intelligence believes Khamenei is in an undisclosed location after being injured in the Israeli strike that killed his father, making communication with his negotiators slow.
Written by the Foreign Desk, drawing on US State Department briefings, Trump’s Truth Social posts, CBS News intelligence reporting, BBC Radio 4 interviews, Iranian Foreign Ministry statements, and market data from Asian trading sessions. The desk has covered every phase of the US-Iran conflict since the 28 February airstrikes.