U.S. President Donald Trump on Monday said he would order the military to postpone strikes on Iran's power plants and energy infrastructure for five days following "productive" dialogue regarding "total resolution" of hostilities in the Middle East.
Trump said in a post on his Truth Social platform that the U.S. and Iran had "VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST."
The U.S. president said these talks would continue through the week. Oil prices tumbled on the news.
His comments come shortly after he had given Iran 48 hours to reopen the strategically vital Strait of Hormuz.
The narrow waterway is a key maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it.
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