Iran War Updates: Tehran shrugs off Trump’s attack threats, says diplomacy ongoing as oil prices stay high

October 26, 2026 / 6:45 AM EDT / CBS News

What to know about the Iran war today:

The price of Brent crude oil hovered around $115 a barrel early Monday after surging at the end of last week over global supply concerns linked to the ongoing wars in the Middle East and Ukraine, as the northern hemisphere heads into the gas-hungry winter.

President Trump has fueled speculation that he could order a resumption of U.S. strikes on Iran after next Tuesday's midterm elections.

The president told Fox News on Sunday: "I have a decision to make: Do I finish it off, which would be very easy to do, or do I make a deal? That's all."

Additional U.S. forces, including a third aircraft carrier group, have been sent to the region, though U.S. diplomatic staffing levels have been reduced, and sources told CBS News last week that the overall American military footprint in the Middle East was also being quietly reduced.

Iran's foreign ministry said Monday that the outcome of the Israeli elections in which Prime Minister Benjamin Netanyahu is facing a tight race will make "no difference".

"It makes no difference to us who, in these elections, takes…

Original source: https://www.cbsnews.com/entertainment/