President Donald Trump said he is “much less confident” a nuclear agreement with Iran will be reached, as Tehran threatens regional retaliation and oil markets react sharply to the heightened uncertainty.

Trump Signals Breakdown in Talks

In remarks to the New York Post, Trump expressed frustration with the pace of negotiations, saying Iran “seems to be delaying,” and warned that hopes for a deal are fading. His statement comes ahead of a sixth round of nuclear talks in Muscat, Oman, mediated by the Gulf state.

Oil markets reacted immediately, with Brent crude jumping nearly 2% to above $68 per barrel as investors priced in rising regional tensions.

Iran Issues Blunt Threats to U.S. Bases

Iran’s Defense Minister Aziz Nasirzadeh warned that if diplomacy fails, the Islamic Republic will target “all US bases in host countries without hesitation.” He added, “If conflict is imposed on us, the other side will undoubtedly suffer greater losses.”

This is Tehran’s sharpest threat since the Geneva framework began taking shape and follows a months-long negotiation process mediated by Oman.

Iran Offers Mixed Signals: Threats and Proposals

Despite the rhetoric, Iranian Foreign Minister Abbas Araghchi stated on social media that an agreement to keep Iran’s nuclear program peaceful “is within reach.” Deputy Foreign Minister Majid Takht-Ravanchi added that Tehran is preparing a new proposal for the next round of talks that could serve as a framework while technical details are worked out.

One unresolved issue is uranium enrichment. Iran insists it will not halt enrichment for civilian energy, while Washington has sent mixed messages—though Trump has recently taken a firmer stance demanding a full stop.

Russia Suggests Workaround as Backup

Meanwhile, Russia offered to step in with a proposal for Iran to transfer excess enriched uranium to its territory—a move aimed at keeping talks alive and bridging the enrichment impasse.

While Iran denies ambitions to build nuclear weapons, its near-weapons-grade uranium stockpile has deepened concerns in Washington, Tel Aviv, and among Gulf allies.