"On Friday, Trump said that he did not want a ceasefire and announced that the U.S. might soon 'wind down' its military operations, and Treasury Secretary Scott Bessent announced that the U.S. was temporarily lifting sanctions on $14 billion worth of Iranian oil."
"On Monday morning, shortly before the markets opened, Trump announced on Truth Social that the U.S. and Iran have had very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East."
"Iran responded that if its energy infrastructure was attacked, it would retaliate against allied energy infrastructure and desalinization plants. Energy market analysts got super nervous."
Israel attacked Iran's largest natural gas facility, prompting Iran to retaliate against Qatar's facility, causing global energy panic. President Trump claimed Israel acted alone and announced a potential winding down of U.S. military operations. He threatened Iran with attacks on power plants unless the Strait of Hormuz was opened. Following productive conversations, Trump postponed military strikes against Iranian energy infrastructure for five days, leading to favorable market reactions. Iran's foreign ministry denied negotiations, asserting that Trump had backed down from his threats.
Read at Intelligencer
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