US President Donald Trump has announced a five-day postponement of military strikes on Iranian power plants and energy infrastructure, citing “very good and productive conversations” between Washington and Tehran.
This decision comes a day after Iran warned it would completely close the Strait of Hormuz if Trump carried out his threat to bomb Tehran’s power plants.
Trump had issued a 48-hour ultimatum on Saturday, which was set to expire on Monday, demanding Iran reopen the Strait of Hormuz.
However, in a Truth Social post, Trump scaled back his threats, stating that talks would continue throughout the week.
The US and Iran have reportedly held “in-depth, detailed, and constructive” discussions aimed at resolving hostilities in the Middle East.
The announcement has caused oil prices to plummet, with Brent crude dropping from nearly $109 per barrel to below $94 per barrel before rebounding to above $97.
The international community is watching closely, with Gulf states and Israel expressing concerns about the escalating tensions.
