Rubio Told Foreign Ministers Washington Would Prioritize Economic Pressure and Naval Blockade Over Military Strikes

Oil prices fell below $85 a barrel on Tuesday after the United States signaled a shift in its Iran strategy from military strikes to economic pressure, and as Iran and Oman reached an agreement on a shipping route in the Strait of Hormuz. Brent crude futures for November delivery were down about 2.8% from the previous close at $84.86 a barrel by 11:55 a.m. local time, after rising to $91.29 the day before and settling at $87.27. West Texas Intermediate (WTI) crude for October delivery traded at $79.83 a barrel at the same time. The decline was driven by reduced expectations of new U.S. military strikes on Iran and hopes that oil flows through the Strait of Hormuz could increase.

According to U.S. officials who spoke to the American news platform Axios, Secretary of State Marco Rubio conveyed the Trump administration's current Iran strategy in recent phone calls with his counterparts in allied countries. Rubio reportedly told foreign ministers that Washington would prioritize economic pressure and a naval blockade over military strikes. One official said Rubio made clear the U.S. approach would focus on sanctions and maritime enforcement rather than direct military action.