US forces have struck Iran’s Qeshm Island in what officials reportedly described as a defensive measure, marking the first attack on the island since June. This comes as Iranian President Masoud Pezeshkian stated that Supreme Leader Ayatollah Mojtaba Khamenei has given the government “certain authorities” over talks with the US, adding that Tehran would seek to resolve the conflict through dialogue. Separately, US Vice President JD Vance also expressed hope for a diplomatic solution just hours before the strikes. Oil prices dropped by more than 7% on Monday amid these developments.