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Trump Holds Off Iran Strikes on Pledge a Hormuz Deal Is Close

Bloomberg (via Yahoo Finance NZ) · back to the audit

US President Donald Trump said he's holding off from new strikes on Iran, after Tehran and other Middle Eastern powers told him they're working on an agreement that might quickly reopen the Strait of Hormuz.
Trump said he agreed to cancel the attack "subject to being able to rapidly make a DEAL," adding: "Get to work, everybody, and get it DONE."
Trump wrote that the US was asked "to hold off any attack in that the perimeters of a deal has been agreed to," saying the deal "would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran's nuclear threat."
Iran's semi-official Fars news agency called Trump's claim of halting attacks a "repeated retreat from threats."
Foreign Minister Abbas Araghchi warned against "adventurous actions by the US military," saying Iran was "fully prepared" to respond "decisively."
Axios reported Saudi Crown Prince Mohammed bin Salman urged Trump to refrain from new strikes; Saudi state media said the crown prince stressed the need for dialog to deescalate.
Israel waiting out this diplomatic push, per Zev Elkin of Netanyahu's security cabinet (Army Radio, Sunday): "some kind of vector toward an agreement between Iran and Oman"; "We'll all wait to see if this vector really does become a full agreement."
Brent crude ended last week above $90 a barrel, versus below $72 at the start of July.