Trump cancels Iran strikes scheduled for Thursday evening

President Donald Trump on Thursday canceled the U.S. military's latest round of strikes against Iran, claiming, "Discussions and final points have been, in both concept and great detail, approved by all parties involved." But the U.S. Naval blockade of Iranian ports in the Gulf of Oman will "remain in full force and effect until this Transaction is finalized," Trump wrote in a Truth Social post. The president has claimed for months that a peace deal with Iran is close at hand, but no agreement has been signed. "Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly." Stock indexes soared and oil prices sank right after Trump's announcement. Just a few hours earlier, Trump warned on social media that the U.S. would attack Iran "VERY HARD TONIGHT," and would soon take control of Iran's oil infrastructure assets, including Kharg Island. This is breaking news. Please refresh for updates.