US-Iran Conflict Pauses as Trump Considers Diplomatic Options
The US-Iran conflict has seen a temporary pause in strikes after two weeks of bombing. The pause was announced on Friday, allowing Tehran to suspend retaliatory attacks against Washington's allies in the Middle East for a second consecutive night.
US Ambassador to the United Nations Mike Waltz stated that President Donald Trump wants to give negotiations some room, but forces remain locked and loaded. An Iranian official noted that 'Iran’s position remains “attack for attack”: if the attacks stop, Iran will also halt its operations'.
The conflict has had a significant impact on markets, with crude oil prices plummeting over 5% at the week's open in reaction to the latest developments. This led to hopes for diplomacy to end the conflict, which in turn eased inflation fears and tempered US Federal Reserve rate-hike bets.