US and Iran pause strikes for third night to make space for talks, US ambassador says

What Happened

The United States and Iran have paused military strikes for a third consecutive night, according to statements by US ambassador to the UN Mike Waltz and an Iranian army spokesperson. Waltz said President Donald Trump had 'given talks some space' but stressed that 'all options are on the table' and that additional US military assets were moving into the region. The Iranian spokesperson said Tehran had halted 'retaliatory' attacks. The pause follows 13 nights of US strikes on Iran, which Washington said aimed to degrade Iran's ability to threaten commercial shipping in the Strait of Hormuz, and Iranian attacks on US facilities that killed four American soldiers. The June ceasefire collapsed after Iranian forces attacked tankers on 13 July, prompting renewed US airstrikes and a naval blockade. Oil prices fell below $90 per barrel after the pause, having hit $100 last week. Iran and Oman held technical talks on Strait of Hormuz management on 16–17 August, according to Iranian foreign ministry spokesman Esmail Baghaei.

Key Actors

Why It Matters

The pause temporarily halts the most intense direct US-Iran military exchanges in decades, which have threatened commercial shipping in the Strait of Hormuz—a critical chokepoint for global oil and gas. The drop in oil prices reflects market relief, but continued volatility threatens energy supplies and economic stability. Oman-brokered technical talks signal a potential diplomatic track for strait management, though the collapse of a June ceasefire underscores deep mistrust.

Watch For

Monitor whether the pause extends beyond three nights and if formal ceasefire negotiations are announced. President Trump's meeting with Israeli Prime Minister Netanyahu on Tuesday may shape US posture. Watch for further details on the Iran-Oman technical talks and any joint statement. Oil price movements and shipping activity through the Strait of Hormuz will indicate market confidence. UK Defence Secretary Streeting's upcoming meeting with the US defence secretary may signal Western military coordination.