US-Iran War Update Today:August 18, 2026 Trump Says No Talks Are Planned as Hormuz Crisis Deepens

August 18, 2026 — The conflict between the United States and Iran has entered another tense phase, with diplomacy appearing increasingly uncertain, the Strait of Hormuz remaining at the centre of the confrontation and oil prices climbing as markets assess the risk of prolonged disruption.

President Donald Trump said Tuesday that there are currently no talks taking place or scheduled with Iran, while Tehran maintains that the Strait of Hormuz will remain closed until Washington meets conditions connected to an earlier interim agreement.

Trump Says No Talks With Iran

Trump's latest comments represent a significant setback for hopes of an immediate diplomatic breakthrough.

The U.S. president said there were no ongoing or planned discussions with Tehran. The statement came after the expiration of a 60-day framework that had been intended to create a pathway toward broader negotiations between Washington and Tehran.

Iran, however, has indicated that diplomacy has not completely disappeared as an option, although Tehran continues to reject demands that it surrender.

Strait of Hormuz Remains the Main Flashpoint

The Strait of Hormuz has become the most important point of disagreement between the two sides.

Iran says the waterway will remain closed until the United States meets conditions linked to the interim agreement, including demands concerning sanctions, frozen Iranian assets and the U.S. military presence.

Trump, on the other hand, has insisted that the strategic waterway is open and operating, creating a sharp contradiction between Washington and Tehran over the actual status of shipping.

Shipping activity has nevertheless remained severely limited compared with normal levels, according to recent reports.

Trump Again Threatens Oman

The situation has also drawn Oman deeper into the crisis.

Trump has threatened to bomb Oman if the country interferes with U.S. efforts concerning Iran. Oman has been attempting to mediate and has reportedly been working with Tehran on arrangements governing commercial shipping through the Strait of Hormuz.

The threat has raised concerns because Oman has traditionally maintained diplomatic relationships with both the United States and Iran.

Any direct military confrontation involving Oman could dramatically widen the conflict.

Iran Signals More Aggressive Military Posture

Iran has warned that it could adopt a more aggressive military stance if diplomatic efforts fail.

A senior Iranian official said Tehran could move toward a "fully offensive" posture if negotiations collapse. Iran has also tied the reopening of the Strait of Hormuz to conditions it says Washington must fulfil.

The warnings have heightened fears that the conflict could enter a new military phase if diplomacy completely breaks down.

Oil Prices Rise as War Threatens Global Supplies

The economic consequences of the conflict are becoming increasingly visible.

Brent crude rose to around $91.46 per barrel on Tuesday, while U.S. West Texas Intermediate crude climbed to approximately $85.25 per barrel, according to Reuters. Both benchmarks reached their highest levels in roughly three weeks.

The increase reflects concerns that prolonged disruption around Hormuz could reduce the availability of crude oil on international markets.

The Strait is one of the world's most important energy corridors, making any prolonged disruption a major concern for oil-importing countries.

Global Markets Remain Nervous

Investors are increasingly concerned that the conflict could produce a prolonged energy shock.

Higher oil prices could contribute to rising transportation, manufacturing and food costs, particularly in countries that depend heavily on imported petroleum products. Financial markets have also been reacting to concerns about inflation and higher borrowing costs.

For consumers, the biggest potential impact could come through higher fuel prices and the knock-on effect those increases have on transportation and everyday goods.

What Happens Next?

The immediate question is whether Washington and Tehran can return to negotiations.

For now, the situation remains uncertain. Trump says no talks are planned, while Iran continues to make the reopening of Hormuz conditional on U.S. concessions. At the same time, Oman is attempting to play a diplomatic role despite Trump's increasingly hostile rhetoric.

A diplomatic breakthrough could quickly ease pressure on energy markets, while a further military escalation could push oil prices significantly higher and create additional instability across the Middle East.

Final Thoughts

The US-Iran war remains one of the biggest geopolitical risks facing the global economy.

With the ceasefire framework expired, negotiations stalled, Iran threatening a more aggressive posture and the Strait of Hormuz still at the centre of the dispute, the possibility of further escalation remains a major concern.

For now, the world is watching Washington, Tehran and Muscat closely as the struggle over the Strait of Hormuz enters a potentially decisive stage.

This article is based on reports available on August 18, 2026. The situation is developing rapidly and details may change.