Trump Says the U.S. Does Not Need a Deal With Iran; Oil Prices Jump More Than 1%
President Donald Trump posted on Truth Social on November 12 that the United States does not need a deal with Iran. Crude oil futures jumped on the remark, with both U.S. and Brent crude rising more than 1%.
In the post, sent at about 8:07 a.m. Eastern on Thursday, Trump wrote: "We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!" The "Strait" was widely read as a reference to the Strait of Hormuz.
MarketWatch reported that after the post, U.S. crude futures rose above $87 a barrel, the yield on the 10-year Treasury note climbed about seven basis points to around 5.06%, and stock futures fell.
The remark contrasts with recent negotiating signals: Trump had authorized Vice President JD Vance to lead talks with Iran, and Vance is considering a direct meeting with Mohsen Rezaei, secretary of Iran's Supreme National Security Council. Trump himself said on November 9 and again on November 11 that the war with Iran was effectively over militarily and that the United States had won it.
(Source: The White House)
Source: The White House
Published by GSM · USA (original Chinese edition)
Photo: 图：特朗普11月9日在白宫布雷迪简报室举行简报会（资料图，本站档案图复用）。白宫官方视频截图。 / Photo: President Trump holds a briefing in the White House Brady Briefing Room on November 9 (file photo; GSM archive reuse). Still from the official White House video.
Story Timeline
- 2026-10-30Trump: Vance's Letter to Iran's Security Chief Was About Medical Supplies, Not a Directed Push to Revive Peace Talks
- 2026-10-30Follow-Up: Trump Says War With Iran Will Be "Wrapped Up Soon," Insisting on a Guarantee Tehran Never Gets a Nuclear Weapon
- 2026-10-31Iran's Military Says Russian Su-35 Fighters Have Been Bought and Will Be Delivered After the War
- 2026-11-01Iran's Revolutionary Guards Arrest Military-Industry Technician Accused of Leaking Drone and Missile Secrets to Israel
- 2026-11-02Follow-Up: Vance Says US-Iran Talks Have Made Progress, With No Deadline Set for Resuming Strikes
- 2026-11-02Follow-up: U.S.-Iran Talks End Without Breakthrough but Contacts Continue: Tehran Says Condensed Seven-Step Plan Could Reopen Strait of Hormuz Within Two Days
- 2026-11-02Israeli UN Envoy Danon Denies Netanyahu Is Pressing Trump to Resume Strikes on Iran
- 2026-11-02Putin Holds Phone Call With Iran's Security Chief Rezaei on Middle East Situation and Strategic Partnership
- 2026-11-03Follow-Up: Iran Says U.S. Reply Is 'Not Convincing': Seven Conditions Must Be Answered and Met before Hormuz Reopens
- 2026-11-03Iranian Lawmaker Says Ships From China, India, Iraq and Qatar Are Exempt From Strait of Hormuz Transit Restrictions
- 2026-11-04Iran Parliament Speaker Ghalibaf on US Midterm Results: Says Americans Said No to War
- 2026-11-04Iran's Supreme Leader Mojtaba Khamenei Says Those Expecting a US Policy Shift Are Greatly Mistaken
- 2026-11-04Follow-Up: Israel's UN Ambassador Danon Responds to Vance: Striking Iran Was America's Decision and Israel Backed It
- 2026-11-04Iranian State TV Airs a Missile Target Map of Europe Listing Kyiv, Lviv and Odesa as Potential Targets
- 2026-11-04Calls Grow Inside Iran to Build Nuclear Weapons: Clerics and Lawmakers Urge a Bomb and Withdrawal From the Non-Proliferation Treaty
- 2026-11-05Russia's Foreign Ministry Renews Advice: Citizens Should Postpone Travel to Iran
- 2026-11-05Putin Meets Iran's Security Council Secretary Rezaei at the Kremlin: Visitor Delivers a Message From Mojtaba Khamenei
- 2026-11-05Trump Meets National Security Team on Iran: Says He Will Soon Decide Whether to Resume All-Out War
- 2026-11-05Follow-Up: Iran Sends Nuclear Proposal to the U.S. via Qatar, Tying Any Talks to Seven Demands
- 2026-11-05Senate Rejects War Powers Resolution 48-51 That Would Have Required Trump to End Military Action Against Iran
- 2026-11-06Trump Tells Congress Hostilities With Iran Have 'Terminated,' Arguing No Approval Is Needed
- 2026-11-06U.S. Central Command Offers a Reward of Up to $20 Million for Information on Iran's Nuclear Program
- 2026-11-06Follow-Up: Vance Leads the Indirect Talks With Iran, Speaking Almost Daily With Qatari and Pakistani Mediators
- 2026-11-06Follow-up: Advisers Tell Trump the Window for Renewed Iran Strikes Is Closing, With a Decision Due Within Weeks
- 2026-11-06Follow-up: Iraq's Foreign Minister Proposes a Regional Foreign Ministers' Committee to Shuttle Between Tehran and Washington
- 2026-11-06Israeli Media: Netanyahu Planned Action Against Iran Before the Election; Plan Halted After U.S. Learned of It
- 2026-11-06Washington Post: Bessent Asked China to Use Its Influence With Iran to Help End the War; Beijing Relayed the Message to Tehran
- 2026-11-06Iran's Health Ministry Denies Distributing Anti-Radiation Iodine Tablets Near Nuclear Sites, Calling The Times' Quotes Fabricated
- 2026-11-07Trump's Advisers Split Three Ways on Iran — Vance for a Deal, Hegseth for Strikes, Rubio and Bessent for Pressure — as Qatar Mediates at the Eleventh Hour
- 2026-11-07Iran's Araghchi Holds Calls With 12 Foreign Ministers in 48 Hours, Urges Regional Security Free of Outside Interference
- 2026-11-07Iraqi Foreign Minister Says US Treasury Asked Iraq to Close All but Two Border Crossings With Iran
- 2026-11-08Israeli Defense Minister Katz: Mission Against Iran 'Not Yet Complete,' Says Tehran Is Seeking to Renew Nuclear Weapons Efforts
- 2026-11-08Trump Tells CNN Renewed Strikes on Iran Are 'Highly Unlikely' If Talks Progress
- 2026-11-08[Video] Rubio in Florida on Iran, Ukraine and the ICC: U.S. Will Never Accept ICC Jurisdiction Over Americans
- 2026-11-08Iran's Araghchi Restates Two-Day Proposal: End the War on All Fronts or Face a Harsh Response
- 2026-11-08Trump Tells 60 Minutes That Israel and Other Protected Countries Must Repay All U.S. Costs of the Iran War
- 2026-11-09Iran's President Pezeshkian: Supreme Leader Has Ordered an End to the 'Neither War nor Peace' State With the United States
- 2026-11-09Iran Defends Two-Day Proposal to Restart Peace Talks, Saying Its Conditions Are Not Unreasonable
- 2026-11-09Trump Says Iran War Is Militarily 'Effectively Over,' Vows to Keep Naval Blockade and Iron Gate in Place
- 2026-11-09Erdogan Says He Urged Trump in a Call Not to Strike Iran Again; Turkish Intelligence Chief Cites Progress on a Seven-Point Plan
- 2026-11-09Allianz Trade: Gulf War Damage Tops $200 Billion, Cumulative Economic Gap Could Reach $790 Billion by 2030
- 2026-11-10Follow-Up: Iraq Reopens Sheib Crossing With Iran After Three-Week Closure, to Temporarily Close Mandali From Friday
- 2026-11-10Araghchi Says U.S. Sanctions and Pressure Are the Wrong Path, Denies Any Planned Rezaei-Vance Meeting
- 2026-11-10Iran's IRGC Unveils New Underground 'Missile City' Displaying Ballistic and Cruise Missiles
- 2026-11-10Follow-Up: Israeli Media Report Heated Trump-Netanyahu Call Over Iran; Prime Minister's Office Calls It 'Fake News'
- 2026-11-10Iran's Araghchi Writes to UN and IAEA Demanding Condemnation of U.S. $20 Million Reward for Iranian Nuclear Tips
- 2026-11-11Iranian Lawmaker Says Chinese and Indian Ships May Transit Hormuz for a Fee; India Says It Has No Iranian Assurance
- 2026-11-11IMO Secretary-General Calls on States to Strictly Enforce Maritime Rules in the Strait of Hormuz
- 2026-11-11Iran Security Chief Rezaei: Not a Single Particle of Enriched Nuclear Material Will Leave Iran
- 2026-11-11Vance Weighs Direct Talks With Iran's Security Chief Rezaei as Trump Empowers Him to Lead Negotiations, WSJ Reports
- 2026-11-11Iran's Ghalibaf: Strait of Hormuz Will Never Return to Pre-War Status, Seven Conditions Sent to Washington
- 2026-11-11Israeli Security Cabinet Told Military to Step Up Readiness for a Possible Strike on Iran, KAN Reports
- 2026-11-12Trump Says the U.S. Does Not Need a Deal With Iran; Oil Prices Jump More Than 1%This story
