US strikes 'on a hold,' as talks, battle for Strait of Hormuz control loom with Iran

U.S. military has paused its airstrikes on Iran after nearly two weeks of intensifying bombing, while diplomatic efforts have pushed forward to try to avert a return to all-out war.

Waltz: 'He's giving talks some space, he's giving it a little bit of room.' Fox News reported that Iran is halting its attacks as long as the U.S. maintains its latest pause in strikes, a senior Iranian source told Reuters. The source cautioned there was 'more skepticism than optimism' following the U.S. decision to pause attacks.

Mojtaba Khamenei said Tehran has 'designated the preservation of Lebanon's territorial integrity and the absolute, unconditional termination of the Zionist regime's aggression as the primary condition for any agreement to end the imposed war against the aggressive U.S.' 

Netanyahu: 'In many ways, it's his decision.' Netanyahu said previous U.S.-Israeli strikes had set Iran's nuclear efforts back several years but cautioned that Tehran could attempt to rebuild.

Oil prices plunged more than 5% as Trump pauses Iran strikes. Brent crude fell 5.8% to $91.20 a barrel; WTI dropped 5.5% to $84.40.