International oil prices saw a sharp plunge in off-hours trading, and Trump ordered the U.S. military to pause strikes against Iran

In the early hours of July 26, international oil prices in off-hours trading plunged sharply. As of 9:50 a.m. Beijing time, both the WTI and Brent off-hours prices fell by more than 3%. International oil prices in off-hours trading saw a sharp plunge, and Trump ordered the U.S. military to pause strikes against Iran

Citing a report from the U.S. Axios News website on July 25, Xinhua News Agency said that on July 24, U.S. President Donald Trump ordered the U.S. military that day not to launch strikes against Iran, breaking a stretch in which the U.S. military had carried out airstrikes against Iran for 13 consecutive days.

The report, citing two people familiar with the matter, said that over the past two weeks, Trump had approved strike plans submitted by the military every afternoon, and those actions were typically carried out within a few hours. But on the 24th, after Trump received a similar plan, he did not approve it. Instead, he instructed the military not to carry out strikes. It is not yet clear whether this is only a one-time measure.

The report said that Trump’s move shows, on the one hand, that he is willing to create more room for diplomatic efforts. On the other hand, it also indicates that he recognizes that, unless large-scale military operations are restarted, the U.S. military’s current airstrikes are unlikely to achieve further results. A source said the U.S. military is still making plans for a possible resumption of large-scale combat operations, but Trump has not made a decision yet.

The report also said that hours before Trump ordered a pause in strikes, an Omani delegation arrived in Iran to hold talks on new arrangements for reopening the Strait of Hormuz. Two sources in the region said the negotiations have made progress and that Oman and Iran may reach an agreement over the weekend.

On the afternoon of July 24, Trump told the media at the White House that the U.S. and Iran are still in talks, adding that Iran is “serious this time.” He also threatened that the U.S. could continue military strikes against Iran, saying, “If necessary, we can fully upgrade to a higher level. We are ready and can act at any time.” #夏日创作营 $XTIUSD ‌