President Donald Trump said Iran talks will begin on Monday, but he gave no deadline for an agreement. He declined to say where the talks would take place or which parties would participate. Trump said he prefers reaching a deal rather than causing loss of life. Trump’s statement follows days of heightened rhetoric in which he had threatened to resume military action against Iran. Iran has largely closed the Strait of Hormuz, a critical conduit for about 20% of world oil and LNG shipments, contributing to higher energy prices. Iranian Foreign Minister Abbas Araqchi held phone calls with Saudi Foreign Minister Prince Faisal bin Farhan and Pakistan’s army chief General Asim Munir, according to Iran’s state news agency. Iran and Oman are in the final stages of discussions on a new routing option for the strait, though Araqchi said the negotiations are unrelated to whether the strait is opened or closed. Iran previously rejected an Omani proposal that would have introduced voluntary fees for vessels using the strait. Israel’s energy minister Eli Cohen said Israel is coordinating with the United States on regional security and would respond if Iran restarts its nuclear program or advances missile capabilities. Trump and Israeli Prime Minister Benjamin Netanyahu met in Washington earlier this week and discussed all possible methods to curb Iran’s nuclear activities, including diplomacy, economic pressure and force. Oil prices fell more than 4% in early trading on Monday after Trump’s remarks. The timing and outcome of the talks remain uncertain as diplomatic efforts continue.