Trump Halts Iran Strikes as Hormuz Deal Nears

President Donald Trump announced a halt to U.S. military strikes against Iran, citing progress in negotiations and an emerging deal to manage the Strait of Hormuz. The decision followed pressure from Gulf allies to de-escalate, with formal talks scheduled to begin on Monday afternoon. Iranian Foreign Minister Abbas Araghchi confirmed that Iran and Oman are in the final stages of an agreement to manage the strategic waterway.

Despite the rhetoric of pauses, reports indicate that attacks continued to land, creating a disconnect between official statements and operational reality. This volatility forced the U.S. to redirect 35 ships due to the Hormuz blockade. The shifting military posture caused global oil prices to plummet as investors reacted with optimism to the prospect of a ceasefire, though disruptions to shipping logistics persisted.

In a separate diplomatic effort, the U.S. and Japan coordinated currency market interventions to stabilize the weakening yen, which Trump characterized as a "signal of friendship." Additionally, the administration proposed a peace plan for Israel and Hamas; while endorsed by Israel, the plan faced security objections from the Israeli Prime Minister's office regarding the proposed disarmament of Hamas.