US President Donald Trump has announced a temporary pause in the operation to escort ships through the Strait of Hormuz, pointing to what he described as “significant progress” in ongoing talks with Iran.
The move comes just a day after the US began guiding stranded tankers through the narrow but critical shipping route, which has been largely shut since the conflict escalated earlier this year.
The disruption has choked off roughly 20% of global oil supply, triggering sharp increases in energy prices worldwide.
In a post on social media, Trump said both sides had agreed to briefly halt the escort mission known as “Project Freedom” to allow time for a potential agreement to be finalised.
However, he made it clear that the broader naval blockade on Iranian ports would remain in place.
There was no immediate response from Tehran.
Shortly after Trump’s announcement, oil prices dipped, falling below the $100-per-barrel mark an early sign that markets are reacting to the possibility of easing tensions.
Earlier in the day, U.S. Secretary of State Marco Rubio described the escort effort as a defensive measure, insisting Washington’s goal was to keep the waterway open rather than escalate the conflict.
He also said the U.S. had largely achieved its military objectives in the campaign, which began in late February.
Despite that, the situation on the ground remains tense.
Iran has effectively blocked access to the strait by threatening to deploy mines, drones, and missile systems, while the U.S. has responded with a mix of naval patrols and port restrictions.
US Defence Secretary Pete Hegseth said a fragile ceasefire between the two sides is still holding for now but warned that it is being closely monitored.
Meanwhile, reports of fresh missile and drone activity in the Gulf region have added to the uncertainty.
The United Arab Emirates says it has faced repeated aerial threats, though Iran has denied launching recent attacks.
On the diplomatic front, efforts to broker a lasting peace are ongoing, with Pakistan playing a behind-the-scenes role in mediation. While both sides have held initial talks, a broader agreement remains out of reach.
The stakes are high. Beyond the immediate security concerns, the conflict has already rattled global markets and strained supply chains.
Even if fighting stops soon, experts warn it could take months for the economic fallout to fully settle.
For now, the pause in naval escorts offers a brief window for diplomacy but whether it leads to a lasting breakthrough is still unclear.
