President Trump said Monday that the United States will hold off for five days on striking Iran’s energy and power infrastructure, citing what he described as encouraging diplomatic engagement over the weekend aimed at ending the ongoing three-week conflict.

“I am please [sic] to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East,” Trump wrote, offering no additional details about the discussions.

“Based on the tenor and tone of these in-depth, detailed, and constructive conversations, witch [sic] will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings and discussions.”

Speaking later in a phone interview with CNBC, Trump emphasized that Washington is strongly pursuing an agreement with Tehran and described the negotiations as highly focused and intense.

Iranian officials swiftly rejected the president’s portrayal of events. In a statement released through the Foreign Ministry to the state-run IRAN newspaper, Tehran dismissed the claims outright, saying: “Remarks by the US president are part of efforts to reduce energy prices and buy time to implement his military plans.

“While there have been initiatives by regional countries to de-escalate tensions, Iran’s response has been clear: It did not start the war and all such requests should be directed to Washington.”

Following Iran’s response and the continuation of Israeli air operations, oil markets reversed earlier declines, with prices climbing back toward $100 per barrel by 8:30 a.m. Eastern Time.

Earlier in the day, Trump’s announcement had triggered a sharp drop in oil prices, with Brent crude falling below $94 per barrel after previously reaching nearly $109. At the same time, futures tied to the S&P 500 and the Dow Jones Industrial Average jumped 2.6% ahead of the market open.

Over the weekend, Trump had issued a 48-hour ultimatum demanding that Iran reopen the strategically critical Strait of Hormuz, warning that failure to comply would result in major strikes. He stated that if Iran refused, “the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!”

Tehran responded with threats of its own, warning it would target energy infrastructure throughout the region. Iranian state television displayed a message following Trump’s latest remarks that read: “US president backs down following Iran’s firm warning.”

The president’s latest statement represents the first formal indication that discussions may be underway to bring Operation Epic Fury to a close. The campaign began on Feb. 28, and Trump had initially suggested it could continue for approximately “four weeks or so,” pointing to a possible conclusion around March 28.

Before Trump’s announcement, Iranian Foreign Minister Abbas Araghchi confirmed that he had held a phone conversation with Turkish Foreign Minister Hakan Fidan, as Ankara has previously played a mediating role between Washington and Tehran.

Despite the recent diplomatic activity, Trump had signaled just days earlier that he was not interested in pursuing a cease-fire, even if Iran was open to it following significant losses among its leadership.

“I don’t want to do a cease-fire. You know, you don’t do a cease-fire when you’re literally obliterating the other side,” the president told reporters as he left the White House Friday for a weekend at his Mar-a-Lago resort.

“From a military standpoint, all they’re doing is clogging up the strait. But from a military standpoint, they’re finished.”

The Strait of Hormuz remains largely closed to maritime traffic since the conflict began, disrupting a key global oil route that carries roughly 20 percent of the world’s supply and contributing to volatility in international markets.

At nearly the same time as Trump’s announcement, Oman’s foreign minister, Badr Albusaidi, said his country is actively working to ensure safe transit through the vital waterway.

He offered no further specifics.

{Matzav.com}