Trump says "no rush" on Iran as limited Qeshm strikes reported overnight

*Updated Nov. 3, 2026, ~12:20 p.m. ET: Multiple U.S. officials told CNN, AP, The Hill and others that the U.S. carried out limited "defensive" strikes on Iran's Qeshm Island late Monday after Iranian fire against U.S. assets. As of this update, CENTCOM had not issued a formal public statement, and Iranian authorities had not formally confirmed a U.S. attack on the island.*

President Donald Trump said on Monday that the United States is in no hurry to decide whether to bomb Iran again, even as he insisted that "one way or the other" Washington will act. Iran, for its part, said consultations with mediators are moving quickly, and global oil markets reacted to the mix of signals with their sharpest one-day fall in months. As of Monday evening, no deal had been announced and the war that began on Feb. 28 was still unresolved on the eve of the U.S. midterm elections. Overnight reporting later Monday, however, said U.S. forces carried out limited strikes on Iran's Qeshm Island in the Strait of Hormuz — a development that overtook Monday's earlier "no new strike" framing of the diplomacy and oil story.

This report builds on NewsCubby's earlier coverage of Trump holding off on new Iran strikes while Netanyahu presses for action, and focuses on what changed on Sunday and Monday.

What to know

• Multiple U.S. officials told CNN, AP, The Hill and others that the U.S. carried out limited "defensive" strikes on Iran's Qeshm Island on Monday, Nov. 2, after Iranian surface-to-air fire against U.S. assets or aircraft. The Wall Street Journal first reported the strikes.
• Iran's state news agency IRNA reported explosions on Qeshm Monday night. As of about 12:20 p.m. ET Tuesday, CENTCOM had not issued a formal public statement, and Iranian authorities had not formally confirmed a U.S. attack on the island.
• Trump told Axios on Monday there is "no rush" to decide on new strikes on Iran, though "one way or the other, we will do something."
• Asked by NBC News on Monday whether he was considering striking Iran after the midterms, Trump twice replied, "No."
• Iran says talks through Qatar and Pakistan are "very intensive" and has condensed its seven-step plan so it could be carried out in two days. No agreement has been announced.
• Brent crude fell 7.6% to $104.77 a barrel and U.S. crude fell 7.3% to $96.46, the largest one-day percentage drops since July, NBC News reported.
• Shipping in the Strait of Hormuz remains dangerous, with new reports of vessels struck over the weekend.

What was reported about strikes on Qeshm?

Multiple U.S. officials told CNN, The Associated Press, The Hill, BBC/CBS and others late Monday and Tuesday that U.S. forces carried out limited "defensive" strikes on Iran's Qeshm Island in the Strait of Hormuz on Nov. 2. The Wall Street Journal first reported the operation. Officials said the strikes answered Iranian surface-to-air missiles fired at U.S. assets or aircraft and targeted radar and missile-launcher systems on the island. They described the action as limited, not a return to full-scale war.

Iran's state news agency IRNA reported several explosions on Qeshm late Monday; some residents said they saw aircraft overhead, Al Jazeera reported. The Islamic Revolutionary Guard Corps claimed it downed U.S. drones near Qeshm; those claims have not been independently verified, and CENTCOM has rejected some Iranian drone claims as false. As of about 12:20 p.m. ET Tuesday, U.S. Central Command had not issued a formal public statement on the Qeshm strikes and had not responded to media requests for comment. Iranian authorities had not formally confirmed a U.S. attack on the island. On Tuesday, Parliament Speaker Mohammad Bagher Ghalibaf warned that another U.S. "strategic mistake" would open a "new battlefield" and said "the ball is in America's court to prevent war," Euronews reported.

What did Trump say about new strikes?

In an interview released Monday, Trump told Axios: "One way or the other, we will do something, but there is no rush." He also said: "We crippled them financially. They have no money, no gasoline, and their people are getting very tired of it." Middle East Eye also reported the remarks, citing the Axios interview.

On social media on Monday, Trump wrote that "Iran wants a settlement, as soon as possible. It could happen!" according to Agence France-Presse. Vice President JD Vance told reporters that he and Trump were optimistic about reaching an agreement. "We've certainly made some progress. We'll see if we can make some more," AFP quoted Vance as saying.

Trump's public remarks over the weekend were less settled. On Saturday, Oct. 31, he said at Mar-a-Lago that talks were "going fine," but called the Iranians "not very reliable," according to Euronews. Asked whether he would return to war this week, he replied: "Let's say I did. Would I tell you?" He also said the United States still had to "take care of, I would say, one or two sites," which could be done "in 10 minutes." At a rally in Iowa on Sunday, according to Fox News, he said: "The only reason we are not finished with Iran is because I want to be nice," and added that "at some point, we're going to have to give them the hammer."

Trump also appeared to rule out a post-election attack, at least for now. After markets closed on Monday, NBC News asked him whether he was considering striking Iran after the midterms, and he twice replied, "No," NBC reported. Reuters, in its Monday report, said Trump has repeatedly said there would be no new attack on Iran before Tuesday's midterm elections. Trump has not explained how that answer fits with his statement to Axios that "one way or the other, we will do something."

The Atlantic reported on Monday that Trump has been questioning his Pentagon leaders, Secretary Pete Hegseth and Gen. Dan Caine, according to a Gulf News summary of the report. The White House said Trump has "full confidence" in both. No order to resume major combat operations has been reported; officials described the overnight Qeshm action as limited and defensive.

Where do the Qatar-mediated talks stand?

Iranian negotiators spent three days in Doha, in indirect talks with Qatari mediators, and left on Sunday. An official briefed on the talks told Reuters the team did not leave because of problems, and that a draft proposal to end the war was being circulated. Reuters separately described the outcome as talks that ended with altered proposals and no breakthrough. The contents of the draft have not been made public.

Speaking on Monday to state news agency IRNA, Foreign Minister Abbas Araghchi said: "Consultations through mediators are very intensive." He said "everything depends on the political rationality of Washington," and that Qatar and Pakistan are playing "a very active mediating role." He has said that Iran does not plan to meet U.S. officials directly.

Foreign Ministry spokesman Esmaeil Baghaei described Iran's position in more detail. According to Reuters, Iran's seven-step plan, first submitted in September, remains the basis for the talks, and it has now been condensed so that it could be carried out within two days. Reuters said the plan calls for the United States to lift its blockade of Iranian ports, for Iran to reopen the Strait of Hormuz, for a U.S. waiver on Iranian oil sales and for the cancellation of new sanctions. Other issues would be discussed afterward. Reuters also reported that Iran's position is that nuclear talks can begin only after all of its conditions are verified, and that Trump rejected the seven-step plan in September.

Asked by reporters whether sending Iran's stockpile of highly enriched uranium abroad had been discussed or would be acceptable, Baghaei answered no, according to Reuters. That is one of the clearest gaps between the two sides, since Washington has treated Iran's nuclear material as a central issue. Baghaei called the two-day option "another indication of Iran's good-faith approach," AFP reported, and warned that any aggression against Iran "will be met with a powerful, immediate and comprehensive response."

Iran's government has also sent signals about who is authorized to negotiate. The state news agency IRNA cited President Masoud Pezeshkian as saying the supreme leader had "granted the government certain authorities" in relation to "seeking to resolve problems through dialogue," NBC News reported, and oil traders read the remark as a sign that Tehran would keep talking through mediators. Middle East Eye separately reported that Pezeshkian said the government has been working with mediators to renew a truce with the United States.

Not every voice in Tehran sounds hopeful. Reuters said Iranian sources believe a new U.S. attack is still more likely than a deal. Axios reported that Qatari mediators have written a draft agreement setting out a sequence of confidence-building measures meant to lead to direct U.S.-Iran negotiations, and that Qatari mediator Ali al-Thawadi traveled to Tehran on Monday to continue talks on it. A diplomat told Axios the mediators were waiting for feedback from both sides and that progress was building. NewsCubby's earlier report on Khamenei's warning and Araghchi's rejection of a direct meeting with the United States has more on the Iranian leadership's public stance.

Other governments are trying to help. Reuters reported that Chinese Foreign Minister Wang Yi, after meeting Iranian security official Ali Bagheri Kani in Beijing, said the parties "should focus on political solutions rather than resorting to arms again." AFP reported that Chinese President Xi Jinping and Oman's Sultan Haitham bin Tariq, meeting in Beijing, called for a ceasefire. Russia's Foreign Ministry said reports of new military action against Iran were a cause for "extreme concern," and Iranian state media said President Vladimir Putin phoned Iran's top security official, Mohsen Rezaei.

Why did oil fall, and is Hormuz any safer?

Crude prices fell hard on Monday. According to a Nation Thailand market report, Brent settled at $104.77 a barrel, down $8.66 or 7.63%, and West Texas Intermediate settled at $96.46, down $7.66 or 7.36%. A Gulf News report using OilPrice.com data late in the day showed Brent at $104.10, down 8.2%, and WTI at $96.02. Earlier in the day, Brent had been near $108.50, according to Euronews. CNBC's headline said crude sold off more than 7%, and NBC's headline called it the biggest drop since July.

Trump cited the decline when he spoke to reporters in Washington. "Oil today is down $10," he said, according to NBC News. "And it's going to go down a lot further because we're winning with Iran, easily winning." On Truth Social, he wrote that oil prices were "DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD." The settlement figures above show a decline of roughly $8 to $9 a barrel for Brent and about $8 for WTI, and NBC said the percentage drops were the largest in a single day since July 27, not a record. On Sunday, according to Gulf News, Trump had called higher oil prices "a very small price to pay."

Analysts urged caution. Raymond James analyst Pavel Molchanov warned of the "false dawns" of recent months, according to the market report. UBS analyst Giovanni Staunovo said: "The oil market is still reacting with extreme sensitivity to every headline out of the Middle East." Gulf News reported that some analysts warn Brent could reach $120 if tensions reignite after the midterms. Brent had briefly reached $118 in October, according to Euronews, which also reported that Goldman Sachs said a geopolitical risk premium of about $27 a barrel explained most of October's rally and raised its year-end Brent forecast to $105 from $90. In a Nov. 1 report, Goldman said Brent could reach $140 in 2027 if Persian Gulf output stays 3.5 million barrels a day below its 2025 average. ADNOC chief executive Sultan Al Jaber said nearly 1 billion barrels have been removed from global stocks since the conflict disrupted Hormuz shipping, according to the same market report.

The strait, which normally carries about a fifth of the world's oil according to Euronews, is still unsafe. The UK Maritime Trade Operations center reported on Sunday that a vessel was struck by a projectile in the strait, and The National reported that a second ship was hit east of Ras Al Khafji on Saudi Arabia's Gulf coast. Iran's Revolutionary Guard said two tankers that used an "unauthorized route" hit mines; that claim came from Iranian state media and has not been verified independently. On Friday, the Qatari liquefied natural gas carrier Al Mayeda was struck by "unidentified objects" in the Persian Gulf, its operator Nakilat disclosed on Sunday. No crew were hurt, the ship stayed operational and Qatar called the attack a "dangerous act," Iran International reported.

Where does Israel stand?

NewsCubby reported on Monday on an Axios account, citing an Israeli source and a U.S. source, that Prime Minister Benjamin Netanyahu is pressing Trump to strike Iran immediately after the midterms. In its Monday interview story, Axios described three camps around Trump, according to its sources. Netanyahu and Defense Secretary Pete Hegseth want to resume combat. Vance and White House envoy Steve Witkoff are urging a deal, a position most Gulf countries support. Treasury Secretary Scott Bessent, CIA Director John Ratcliffe and Secretary of State Marco Rubio favor keeping the "no war, no deal" status quo while economic pressure continues. Trump has said he had a good talk with Netanyahu.

According to Iran International, Israel's ambassador to the United Nations, Danny Danon, denied that Netanyahu is pressing Trump and dismissed claims that a nuclear attack was under consideration. The nuclear question traces to a post on X by commentator Tucker Carlson, who claimed on Monday that Trump was considering nuclear weapons against Iran at Netanyahu's urging. Middle East Eye said the post had more than 70 million views by Monday evening. None of the sources reviewed by NewsCubby offered evidence for the claim, and no U.S. official was quoted confirming it.

The disagreement is unfolding as Netanyahu faces an uncertain political position at home. In Israel's Oct. 27 election, his bloc won 53 of the 120 Knesset seats, short of the 61 needed for a majority, and the opposition bloc led by Gadi Eisenkot won 48, according to Euronews. In his first address after the vote, Netanyahu said: "Iran is weaker than ever, Israel is stronger than ever," Iran International reported. NewsCubby's explainer on Netanyahu, Eisenkot and the coalition math has more on the post-election talks.

How is the U.S. military positioned on Election Day?

As of an Oct. 29 Associated Press report, the United States had not publicly disclosed a strike on Iran since early September — a baseline overtaken by Monday night's attributed Qeshm strikes reported above. That Oct. 29 report remains a detailed public account of U.S. force levels and said the Pentagon deployed the USS Theodore Roosevelt, amphibious ships and roughly 9,000 Marines and sailors to the Persian Gulf in late September, and that one U.S. official said the deployment could bring more than 20,000 sailors and Marines and hundreds of aircraft to the region. The AP, citing two anonymous diplomats, also reported that regional allies were told to prepare for possible renewed action after Nov. 3 that could last several days, and the Wall Street Journal reported a similar warning to Gulf states. The White House declined to comment at the time, and the AP said Trump had not made a final decision.

Israel National News reported that Adm. Brad Cooper, the head of U.S. Central Command, briefed Trump at the White House on Thursday about possible operations against Iran, with Hegseth and Caine attending. Secretary of State Marco Rubio said on Saturday that Trump had not decided on further strikes. In a separate analysis published Sunday, the AP found that, through August, more than 115 Iranian or proxy strikes damaged structures on 26 U.S. bases and sites, Gulf News reported.

The war is also a political issue on Election Day. AFP wrote that Republicans are trying to keep control of Congress despite voter dissatisfaction over the war and higher fuel prices, while Democrats expect to win at least partial control. On Sept. 24, the Senate rejected a Democratic-led war powers resolution 50-49, according to The National, with four Republicans voting in favor. NewsCubby's Election Day guide to control of Congress covers the races that will decide the next Congress.

What to watch next: whether CENTCOM or Tehran formally confirms or denies the reported Qeshm strikes, whether the United States formally answers Iran's condensed two-day plan, whether the mediators schedule a new round in Doha or elsewhere, whether shipping incidents in Hormuz continue, and whether Trump's "no rush" language holds once the votes are counted.

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*ARCHIVE PHOTO: President Donald Trump and Israeli Prime Minister Benjamin Netanyahu at the White House on Feb. 15, 2017. Photo: The White House / Wikimedia Commons / Public domain.*

*NewsCubby articles are produced with AI assistance and reviewed by humans.*