ISLAMABAD: The United States (US) and Iran avoided launching fresh strikes on Monday, easing tensions across the Gulf and raising hopes for renewed diplomacy after weeks of military escalation.
The pause also brought relief to global oil and shipping markets, which had been rattled by the conflict.
Iran said it had suspended retaliatory attacks against US allies in the Middle East. The United States also held back from launching new airstrikes.
US Ambassador to the United Nations Mike Waltz said President Donald Trump was giving diplomacy “some space” while keeping US forces on high alert.
Fighting Eases
Iranian army spokesman Mohammad Akraminia said Tehran had halted retaliatory operations after suspending attacks on Washington’s regional partners.
The United States did not carry out airstrikes for a third consecutive night. Before Friday, US forces had struck Iranian targets for 13 straight nights in the most intense escalation since an April ceasefire.
The pause has revived hopes that Washington and Tehran could return to negotiations that were interrupted by the fighting.
Oil Prices Decline
Oil prices fell sharply as investors welcomed the reduction in military activity.
Brent crude briefly dropped more than 7% to below $90 a barrel. US benchmark West Texas Intermediate fell about 4% to around $85.45 a barrel.
Unconfirmed Iranian media reports said a commercial oil tanker had been damaged by a sea mine. The reports underscored the continuing risks to shipping in the Gulf.
Diplomacy Alongside Military Readiness
Speaking to Fox News, Waltz said the Trump administration was giving diplomacy “a little bit of room” while maintaining military readiness.
Trump also rejected reports that the US campaign had slowed because of declining missile stockpiles. He told The Wall Street Journal that the United States had more munitions than it needed.
However, The New York Times, citing unnamed US officials, reported that plans to expand military operations had been delayed partly because of concerns over dwindling supplies of Patriot interceptor missiles and other air-defense weapons.
Netanyahu to Meet Trump
Israeli Prime Minister Benjamin Netanyahu is scheduled to meet Trump at the White House on Tuesday. He is expected to urge continued pressure on Iran, particularly over its nuclear programme.
In an interview with Fox News, Netanyahu backed Trump’s diplomatic efforts but said Iran’s nuclear programme must end “with a deal or without a deal.”
Also Read: Pakistan, Qatar Mediate Iran-US Messages, Says Tehran
Iran says its nuclear programme is for peaceful civilian purposes. The United States and its allies say Tehran is seeking the capability to develop nuclear weapons.
Despite the pause in military action, tensions across the region remain high.
