Trump Postpones Strikes on Iranian Power Plants After Productive Talks with Tehran

United States President Donald Trump has ordered a five-day pause on any military strikes targeting Iranian power plants and energy sites.

He announced the decision on Monday, citing “very good and productive conversations” with Iranian officials over the past two days. The talks focused on a complete and total resolution of hostilities in the Middle East.

The move follows Trump’s Saturday night ultimatum giving Iran 48 hours to fully reopen the Strait of Hormuz or face the obliteration of its power plants, starting with the largest.

Oil and gas prices tumbled immediately after the announcement, easing fears of a prolonged energy crisis that had already pushed global crude above $80 per barrel in recent weeks.

During a 20-minute call on Sunday, Trump and British Prime Minister Keir Starmer agreed that reopening the Strait of Hormuz remains essential for global shipping. Downing Street described the discussion as constructive.

The waterway carries nearly one-fifth of the world’s oil supply. Its partial closure in the ongoing conflict had triggered sharp spikes in energy costs worldwide.

Meanwhile, the Israel Defence Forces said it expects several more weeks of fighting against Iran and Hezbollah, signalling that the broader conflict is far from over.

For Nigeria, the latest twist carries direct economic weight. As Africa’s top oil exporter, the country stands to gain from any drop in global crude prices through cheaper imported refined fuel at the pumps.

Motorists and businesses battered by high petrol and diesel costs could see some relief in coming days. However, sustained low prices may trim federal revenue from crude sales, testing the 2026 budget assumptions.