Trump pauses strikes for 5 days; Iran denies deal as markets tumble
A reported U.S. pause after talks clashes with Tehran’s denial and continued Israeli strikes, while oil prices plunge and the U.S. readies more Marines for the Gulf.
Apr 3, 2026, 10:00 AM EDT
Why it matters: A potential pause could ease energy shocks and de-escalate a widening war, but conflicting signals from Washington and Tehran raise the risk of miscalculation.
Driving the news:
- Donald Trump said the U.S. postponed attacks for five days after two days of talks with Iran, and that the Strait of Hormuz would reopen soon if an agreement is reached.
- Iran’s leadership called the claim “fake news” intended to manipulate markets.
- Israeli jets carried out another wave of strikes on military targets in Tehran after Trump’s announcement.
State of play:
- The U.S. is considering Mohammad Bagher Ghalibaf, Iran’s parliament speaker, as a potential interlocutor and possible future leader, though no decision has been made.
- About 2,200 Marines from the 31st Marine Expeditionary Unit are expected to arrive in the Middle East starting Friday, the same day Trump set as a deadline for reopening Hormuz; additional forces from the 11th MEU are planned for later.
- The UN reported 64 attacks on healthcare facilities in Lebanon, with 51 dead and 91 injured, raising concerns over civilian harm.
By the numbers:
- WTI crude fell about 10.3% to $88.1 per barrel after Trump’s remarks, reflecting market relief over a potential pause.
What they're saying:
- “The U.S. postponed attacks for 5 days after 2 days of very good talks,” Trump wrote on Truth Social.
- Iran dismissed the report as “fake news” aimed at manipulating markets.
- Benjamin Netanyahu said he spoke with Trump and that an agreement could protect vital interests.
What to watch:
- Whether the five-day pause holds and if talks produce a deal to reopen Hormuz.
- The timing and scale of the U.S. Marine deployments and any further Israeli strikes.
- Oil prices and shipping flows through the Strait of Hormuz.
The bottom line: A reported pause and potential deal are colliding with denials and continued strikes, leaving markets and the region on edge.