US President Donald Trump extended his Strait of Hormuz deadline and held off threatened power plant strikes for five days. Iran called it a retreat. Oil markets reacted. The war goes on.
Trump said he had postponed a planned strike on Iran's power grid after what he described as "very good and productive" conversations with Iranian officials
By calling Iranian leaders "very smart chess players", Trump hints at two-pronged strategy ahead, one of restraint but calculated risk in the next move.
Employing a military doctrine of "saturation," Iran has drained the American air defence power in the last 17 days, before launching its most powerful IBMs.
The White House had hoped to rally a grand fleet to patrol the world's most critical oil passageway, but what they got instead was a diplomatic cold shoulder.