Trump hails Saudi-Turkey-Pakistan defence pact amid Iran war

U.S. President Donald Trump has welcomed the signing of the Mecca Joint Defence Agreement between Saudi Arabia, Turkey and Pakistan. In a post on his Truth Social platform, Trump called it a “BIG, BOLD, IMPORTANT FIRST STEP” and said he was “very happy” to see the three countries come together. The pact was signed on August 7.

The defence agreement comes as the U.S. is at war with Iran, a conflict that has spread across West Asia. Iran-backed Houthi rebels have stepped up attacks, and shipping through the Strait of Hormuz has slowed sharply. On Saturday, only five commodity vessels transited the strait, down from 31 the previous weekend, according to data from Kpler.

Oil prices remained nearly flat on Monday, with Brent crude at $88.72 a barrel, as U.S.-Iran peace talks stalled. Both benchmark contracts had gained more than 5% last week after attacks on tankers in the Hormuz strait and a Saudi Aramco refinery. No peace deal is in sight.