US and Iran Halt Bombing Campaign Amid Fears of Waning Effectiveness

The US and Iran have temporarily suspended military operations after 13 consecutive nights of intense bombing, reducing tensions that had brought the two countries to the brink of open conflict.

Tehran is willing to halt attacks on US bases in the region as long as Washington respects a temporary ceasefire, according to a senior Iranian official. However, there's skepticism in Tehran about the sincerity of this move, with officials viewing it as a tactical maneuver rather than a genuine step towards peace.

The de-escalation comes after a period of high tensions sparked by Iranian attacks on merchant ships in the Strait of Hormuz, one of the world's most important oil shipping corridors. The suspension has already had an impact on international energy markets, with Brent crude falling 4% to $92.82 a barrel and US West Texas Intermediate (WTI) crude falling to $85.29 a barrel.