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Aug 5, 2026 5:35 PM - Connect Newsroom - Ramanpreet kaur with files from The Canadian Press

Trump says US-Iran talks made "very good" progress, raising hopes of easing tensions

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Trump has previously warned that failure to reach a deal with Iran could lead to large-scale military action. (Photo: The Canadian Press)

U.S. President Donald Trump has said his administration's day-long talks with Iran on Tuesday were "very good," raising fresh hopes that the five-month-long conflict could soon move toward a resolution.

Following Trump's remarks, oil prices fell across Asian markets while stock markets rallied, reflecting growing investor optimism. Markets are anticipating a possible agreement that could help restore shipping through the strategic Strait of Hormuz, a vital route for global energy supplies.

Trump has previously warned that failure to reach a deal with Iran could lead to large-scale military action. Despite several rounds of negotiations, however, the conflict has yet to be resolved.

Meanwhile, Qatar has also indicated that diplomatic efforts are making progress, suggesting that negotiations between the parties continue to move in a positive direction.

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