The United States and Iran have paused their escalating military strikes after 13 nights of intense U.S. bombing. U.S. officials, including UN Ambassador Mike Waltz, state the pause is meant to give diplomacy space, amid internal military warnings that the U.S. is running out of targets and depleting critical air defense interceptors. However, Tehran has tested the pause with drone attacks on neighbors like Saudi Arabia and Jordan, while asserting it maintains total control over the closed Strait of Hormuz. Meanwhile, global oil prices have tumbled below $90 a barrel following the halt in strikes.
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