Trump keeps all Iran war options open after 13-day pause

The US paused its 13-night bombing campaign against Iran on Friday, but President Donald Trump has kept all military options on the table as Omani-mediated talks over the Strait of Hormuz advance.

The US paused its 13-night bombing campaign against Iran on Friday, but President Donald Trump has kept all military options open as Omani-mediated talks over the Strait of Hormuz gather pace, US Ambassador to the UN Waltz said.

"President Trump keeps all options open on the Iran war issue. Dialogue is ongoing," Waltz said, confirming the administration's dual-track approach of military readiness and diplomatic outreach.

The decision to halt strikes followed mounting concern at the Pentagon over depleting missile-defense stocks, with more than 1,200 Patriot interceptors already used in recent months, the New York Times reported. Vice President JD Vance and Joint Chiefs Chairman Gen Dan Caine both raised warnings about the risks of further escalation during a White House meeting Friday, according to CNN.

The Strait of Hormuz handles about 21% of global oil trade, and the dispute over shipping routes has already injected a risk premium into crude markets. A resumption of strikes could push oil up more than 3%, drive a rally in gold and safe-haven assets, and strengthen the dollar while triggering a risk-off selloff in global equity markets.

Pentagon Stockpile Concerns Drive Tactical Pause

The military's warning to Trump was blunt: widening the campaign would seriously drain Patriot interceptor missiles and other air-defense systems stationed across the Middle East, leaving US troops, allies and bases more exposed to Iranian retaliation, according to Axios. Gen Caine told the president that while the military was capable of a bigger offensive, doing so would put real strain on interceptor stocks assigned to US Central Command.

The last time the US engaged in sustained strikes against Iranian-linked targets was in early 2024, when a series of retaliatory operations lasted roughly five days. The current 13-day campaign is the longest continuous US bombing operation against Iran since the 1980s Tanker War era, when the US Navy escorted reflagged Kuwaiti tankers through the Gulf.

Diplomacy Accelerates as Gulf States Urge Restraint

An Omani delegation arrived in Tehran to discuss a possible arrangement for reopening the Strait of Hormuz, one of the world's most vital oil shipping routes, Axios reported. Regional sources said talks had moved forward and that an agreement between Oman and Iran could come soon, though any deal would still require Trump's sign-off.

Gulf nations have been urging Washington to hold back militarily while diplomatic efforts continue, CNN reported. Iran's army spokesman Mohammad Akraminia said Tehran had also halted its retaliatory operations, signaling a potential de-escalation after nearly two weeks of renewed fighting.

Despite the pause, Trump has made clear that force remains an option. White House Communications Director Steven Cheung said the president has consistently favored diplomacy but "retains all options" should Iran carry out further attacks in the Strait of Hormuz or against US allies. The Pentagon continues to draw up contingency plans for renewed or expanded action, keeping the option open to resume strikes at short notice should talks fail.

This article is for informational purposes only and does not constitute investment advice.