US to hold off on power plant strikes for 5 days

Dubai: President Donald Trump has extended his deadline for Iran to reopen the Strait of Hormuz, saying the US will hold off on power plant strikes for five days. His statement had positive impact on Brent crude futures, which slumped 14.43% from Friday’s close to hit an intraday low of $96 per barrel, breaking below the $100 mark for the first time since March 11. Writing in all capital letters, he said the US and Iran have had “very good and productive conversations” that could yield “a complete and total resolution” in the war. Talks will continue “throughout the week,” Trump said.