Global energy markets reacted positively on Tuesday as US President Donald Trump announced a temporary pause in military strikes against Iran, aiming to give diplomatic negotiations a chance. Consequently, Brent crude fell below $88 per barrel, reversing much of the war premium that had spiked during the nearly two-week conflict.
Despite the halt in direct military action, commercial shipping traffic through the strategic Strait of Hormuz remains well below pre-conflict levels. The UAE has reiterated that restoring normal shipping lanes and prioritizing regional stability remains its top economic priority as regional mediators work to establish a broader framework covering maritime security and Iran’s nuclear program.
