US-Iran deal hopes surge as Qatar circulates drafts, but Trump faces oil profit backlash

Qatar has signaled optimism for a potential agreement between the United States and Iran, with mediators actively exchanging draft proposals aimed at de-escalation and reopening the crucial Strait of Hormuz. While U.S. Treasury Secretary Scott Bessent expressed hope for a swift resolution on the waterway, Qatar's Foreign Ministry emphasized that no firm deal has been reached and Iran has yet to confirm progress on the Strait. Iran, for its part, denied direct negotiations with the U.S., stating its current talks are solely with Oman regarding a new shipping route through the Strait of Hormuz.

Meanwhile, former President Donald Trump is facing scrutiny regarding a conflict with Iran that began in late February, which has led to a significant surge in global energy prices. Trump publicly criticized major oil corporations, including ExxonMobil and Chevron, for "making too much money" from the war-induced market disruption.

ExxonMobil reported $14.5 billion in profit and Chevron announced $12.2 billion in their recent quarterly earnings, leading President Trump to demand that these companies contribute some of their profits back to the public and reduce consumer gasoline prices.