Iran Deal Countdown: Trump Says Iran 'Negotiating on Fumes' as May 31 Deadline Looms — Three Scenarios

# Iran Deal Countdown: Trump Says Iran "Negotiating on Fumes" as May 31 Deadline Looms — Three Scenarios

> **Quick answer:** Trump set a 5-7 day window for an Iran peace deal on May 24, putting the hard deadline between May 29 and May 31. As of May 28, no agreement has been signed. At his Cabinet meeting on May 27, Trump said Iran is "negotiating on fumes" and Secretary of State Rubio said talks need "several more days." Oil dropped 5.5% to $97.90 Brent on Rubio's diplomatic tone. If the deadline passes without a deal, three scenarios are on the table: a signed agreement that begins Hormuz reopening, a quiet extension of talks, or a return to active military operations. Each carries very different consequences for oil, gas prices, and your wallet.

The Iran deal clock is ticking — and it is almost out of time. With Trump's self-imposed window expiring between Thursday and Saturday, every statement out of Washington is moving markets. On May 27, oil fell below $100 for the first time in a month on a single line from Secretary of State Marco Rubio. Here is exactly where things stand, what the three possible outcomes look like, and what each one means for your gas tank and your portfolio.

## Day 4 of the Countdown: What Happened at the Cabinet Meeting

On May 24, Trump publicly stated that a deal with Iran was "largely negotiated" and gave a 5-7 day window for finalization — a clock that expires between May 29 and May 31, 2026.

On May 27, Trump convened a full Cabinet meeting where the Iran talks dominated. His assessment was blunt: Iran is "negotiating on fumes." He elaborated that the Iranian regime had miscalculated, believing they could run out the clock on his administration. "They thought they were gonna outwait me. You know, 'We'll outwait him. He's got the midterms,'" Trump said. "I don't care about the midterms."