US conducts strike on Iran's Qeshm Island amid diplomatic talks

The United States conducted a strike on Qeshm Island, the largest island in the Strait of Hormuz, on Monday, according to a report by the Wall Street Journal that cited unnamed U.S. officials. Iranian state news agency IRNA said residents heard five rapid explosions and observed two aircraft overhead. The Pentagon directed inquiries about the incident to U.S. Central Command, which did not immediately respond to a request for comment.

The journal described the attack as part of a series of limited strikes the United States has carried out against Iran in recent weeks, describing them as defensive measures intended to restrict Iran's ability to target commercial vessels in the strait. The United States has not publicly announced the strikes, according to the report.

"A deal with Tehran could happen," President Donald Trump said on the eve of the U.S. midterm elections, referring to ongoing intensive talks.

Oil prices fell sharply on Monday as markets responded to optimism about a potential resolution to the conflict that has disrupted oil shipments through the Strait of Hormuz.