Live updates: Iran threatens Gulf as Trump's Hormuz deadline looms; energy crisis worse than 1970s, IEA says
President Donald Trump has postponed strikes on Iran's power plants for five days, citing productive talks to end the war. The global economy faces a major threat due to the energy crisis, which is worse than the oil shocks of the 1970s, according to the International Energy Agency.
President Trump has postponed strikes on Iran's power plants for five days. The decision comes after productive talks to end the war. Iran had threatened to close the Strait of Hormuz and hit power plants across the region if Trump followed through on his threat. The global economy faces a major threat due to the energy crisis. Over 2,000 people have been killed in the conflict, including 1,200 in Iran and 1,000 in Lebanon. The US has moved to ease sanctions on Iranian oil to cool surging prices.
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