Gulf Allies Asked US to Hold Off on Our Planned Military Attack on Iran Says Trump 20260519 0246

The postponement of a US military strike on Iran reduces immediate risk of a Strait of Hormuz closure, which would disrupt ~20% of global oil transit. However, the threat remains high, keeping oil and gas supply risk elevated. Gulf allies' involvement suggests diplomatic channels may ease tensions, but Iran's increased military pressure and the drone strike near Abu Dhabi indicate ongoing instability. The primary commercial mechanism is supply_shortage risk for crude oil and LNG, with potential insurance and freight cost spikes. Impact is region-specific (Middle East) but global via energy prices.