US Halts Airstrikes on Iran Amid Diplomatic Efforts

The US has halted airstrikes on Iran, leading to a surge in oil prices by 27%.

The crisis began in late February when the U.S. and Israel launched airstrikes against Iran after Tehran closed the Strait of Hormuz to international shipping, citing new sanctions.

Iranian military spokesman Mohammad Akraminia said the US may have devised other scenarios for the coming days but the current situation is not what they desire.

The halt in airstrikes occurred as a meeting over the weekend between Iranian and Omani diplomats signaled a new effort to sort out the vital matter of shipping through Hormuz.