Hopes for an end to the 105-day conflict between the United States and Iran have risen after President Donald Trump announced that he had cancelled planned military strikes against Tehran, citing significant progress in ongoing negotiations.

The announcement made on Thursday, June 11, when Trump announced from Washington that he had cancelled planned attacks on Iran, marked a dramatic shift from earlier rhetoric. Only hours before, Trump had warned that Iran would be hit “very hard” and suggested that strategic energy infrastructure, including the vital Kharg Island oil export terminal, could become military targets if diplomatic efforts failed.

However, the US President later revealed that military action had been suspended after negotiators reported substantial progress towards an agreement that could potentially end months of hostilities.

In a statement, Trump indicated that discussions had reached Iran’s highest leadership levels and suggested that the final elements of a proposed agreement were nearing completion. He expressed optimism that a formal deal could be reached in the coming days.

The development follows months of military confrontation, economic disruption and heightened tensions across the Middle East. The conflict has affected international shipping routes, particularly around the Strait of Hormuz, one of the world’s most important energy corridors.

Reports from Tehran indicate that Iranian leaders are reviewing a proposed memorandum of understanding presented through diplomatic channels. While Iranian officials acknowledged that discussions are ongoing, they cautioned that no final decision has yet been reached and that key issues remain under consideration.

Political analysts say the latest developments suggest both sides may be seeking a negotiated exit from a conflict that has threatened regional stability and unsettled global markets.

Richard Weitz, an international security expert, described Washington’s approach as an attempt to use pressure to create space for diplomacy. According to analysts, the strategy may have involved escalating military threats while simultaneously encouraging renewed negotiations.

The possibility of a breakthrough has already had an impact on international markets. Global oil prices fell sharply after Trump’s announcement as investors responded positively to signs that tensions around the Strait of Hormuz could ease. Financial markets also recorded gains amid optimism that a broader regional conflict might be avoided.

Meanwhile, reports from Washington suggest that Trump has increasingly sought to prevent further escalation involving regional allies, particularly Israel, amid concerns that additional military operations could complicate diplomatic efforts.

Despite the positive signals, uncertainty remains over the contents of any final agreement and how it would be implemented. Analysts note that major issues, including sanctions relief, access to frozen Iranian assets, maritime security and Iran’s nuclear programme, remain sensitive points in negotiations.

Elsewhere in the region, tensions remain high. Hezbollah claimed responsibility for multiple attacks against Israeli military positions in southern Lebanon, highlighting the broader regional dimensions of the conflict and the challenges facing any long-term settlement.