Iran has finally accepted a two-week-long ceasefire after President Donald Trump announced that he was ready to suspend U.S. attacks on the condition that Tehran fully reopen the Strait of Hormuz. As expected, Trump has now turned his focus to reining in anyone who dares call this a non-victory for him.
Crude oil had hit $144 on some markets, and had it reached the dreaded $150, the global economic consequences would have been unprecedented in the 21st century. Both sides clearly wanted this conflict to pause.
