Trump Pauses "Project Freedom" as Iran Nuclear Deal Nears

Global oil prices have seen a sharp decline today following an announcement from the White House that the U.S. is pausing its "Project Freedom" naval escorts in the Strait of Hormuz. President Trump cited "tremendous military success" and significant progress toward a "complete and final agreement" with Iranian representatives as the primary reasons for the de-escalation. The news has been welcomed by international leaders, including Pakistan’s Prime Minister, who had urged for a diplomatic resolution to avoid a global energy crisis. The pause is seen as a high-stakes bet that a formal peace treaty can finally be signed, effectively reopening the world's most critical oil passage. Despite the optimism in the markets, the U.S. has made it clear that the naval blockade of Iranian ports will remain in effect until the deal is formally signed and verified. Iran’s foreign ministry has confirmed it is reviewing the latest U.S. proposal, though key sticking points regarding the permanent dismantling of its nuclear program and maritime sovereignty remain unresolved. As the world’s financial hubs react to the prospect of $100-per-barrel oil again, the next 48 hours are being described by diplomats as the most critical window for global stability in over a decade.