US President Donald Trump has attributed his decision to postpone planned military strikes against Iran to direct counsel from leaders of three Gulf nations.
The White House indicated that the input from regional allies carried significant weight in the choice to prioritize diplomacy over immediate kinetic action, marking a sharp de-escalation in a crisis that had threatened to disrupt global energy flows.
The announcement comes as a critical relief valve for markets that have been pricing in severe supply disruption risks.
With the Strait of Hormuz remaining a focal point of geopolitical tension, the threat of direct US military involvement had kept a persistent risk premium on crude oil and shipping rates.
By stepping back from the brink, the administration has removed the most acute catalyst for a supply shock, allowing the market to reassess the probability of a prolonged closure of key maritime chokepoints.
This development follows a period of heightened volatility in the region.