US pauses Iran bombing campaign after Omani-mediated talks, markets eye Strait of Hormuz

The US military halted its bombing campaign against Iran for a second consecutive night on July 26, after Omani officials traveled to Tehran to broker diplomatic talks. The pause came after 13 straight nights of airstrikes, marking the first real breather in a conflict that has rattled global energy markets. What happened and why it matters Omani diplomats arrived in Tehran around July 24-25 to open a channel focused on two priorities: navigation safety in the Strait of Hormuz and broader de-escalation between Washington and Tehran. US Ambassador to the UN Mike Waltz confirmed the rationale, stating the pause allows “talks some space.” Iran acknowledged the contacts as well. Foreign Ministry spokesperson Esmail Baghaei confirmed that diplomatic discussions were underway. The Strait of Hormuz is why this story reaches far beyond the Middle East. Roughly one-fifth of the world’s oil supply passes through that narrow waterway every single day. When Iran partially blockaded it earlier in 2026, energy markets responded with significant volatility. The escalation that led to 13 nights of US airstrikes wasn’t a single event but a cascade. US and Israeli forces targeted Iranian nuclear and...