US postpones military action against Iran amid reports of near-term nuclear and Strait of Hormuz negotiations with Oman.
US President Donald Trump has postponed additional strikes on Iran, citing progress toward a nuclear deal and the reopening of the Strait of Hormuz. The decision follows reports of final-stage negotiations between Iran and Oman, which flanks the critical waterway, though discussions do not explicitly address its operational status.
Iranian Foreign Minister Abbas Araghchi confirmed the talks on Telegram, while Saudi Crown Prince Mohammed bin Salman reportedly urged Trump to avoid further escalation. The Saudi news agency stated the kingdom’s leader emphasized dialogue to reduce tensions, reflecting broader regional efforts to stabilize oil transit routes.
Markets are monitoring developments for shifts in risk sentiment, with the Strait of Hormuz handling roughly 20% of global oil supplies. Prior escalations in the region have triggered volatility in energy and equity markets, though recent de-escalation signals may temper immediate sell-offs.