Iran halts Gulf strikes as US holds fire, easing oil‑price worries for Nigerians

Iran has said it will halt retaliatory strikes on US allies in the Gulf—Kuwait, Bahrain and Jordan—as long as President Donald Trump refrains from attacking Iran. US Ambassador to the UN Mike Waltz told Fox News on Sunday, July 25 2026 that Trump is "giving talks some space" and giving diplomacy "a little bit of room." Both sides have halted strikes since Saturday, July 24, marking the first pause after 13 straight days of tit‑for‑tat attacks on military and civilian targets in Tehran and Gulf sites. Iran’s army spokesman Mohammad Akraminia said their strategy has been "attack for attack," so with US strikes paused, Iran also stopped its operations. Foreign‑ministry spokesman Esmail Baghaei noted that Tehran held talks on Friday and Saturday over managing the Strait of Hormuz, the vital chokepoint through which a large share of global oil shipments pass. Waltz added that Trump remains ready to act, saying "I wouldn't go that far at all... the president is keeping all options on the table."

For Nigerians, any flare‑up in the Gulf can send shockwaves through crude prices and affect fuel costs at the pump, inflation and foreign‑exchange earnings. With the current pause, markets may steadies, but the situation remains fluid.

Will you keep an eye on oil‑price bulletins and adjust your household fuel budget accordingly, or wait for clearer signals before making any major spending decisions?

SOURCE: https://www.premiumtimesng.com/news/top-news/898386-iran-halts-retaliatory-strikes.html