Iran halts retaliatory strikes as Trump signals openness to negotiations

Iran announced it has halted retaliatory attacks against US allies in the Middle East, following a pause in American airstrikes. The US military had conducted strikes on Iran for 13 consecutive nights before a three-day break began Friday. Iran's army spokesman Mohammad Akraminia stated that since their strategy had been retaliatory, they have also stopped operations. US UN envoy Mike Waltz said President Trump is "giving talks some space" while forces remain "locked and loaded." The de-escalation eased concerns about inflation and interest rate hikes, with oil prices dropping 8% to around $89 per barrel. The conflict had previously disrupted shipping through the Strait of Hormuz and expanded to Gulf allies and regional military bases.