The United States and Iran stated they is set to stop air and naval strikes for now. Both sides said the pause is meant to keep the situation from getting worse. US officials confirmed the deal over the weekend.
A crude tanker was hit near the Strait of Hormuz, pushing oil prices higher. Iran says it will stay in charge of the strait as tension builds. Shipping firms still judge the waterway risky, even with the temporary halt. Diplomatic talks are anticipated to start again within a few days.