India, March 22 -- US officials have announced that the Trump administration will lift sanctions on Iranian oil stranded at sea under a one-month license as the White House tries to bring down soaring oil prices. The pause applies to Iranian oil loaded on ships as of Friday and is set to end April 19.

Iran had earlier on Friday threatened to expand its retaliatory attacks to include recreational and tourist sites worldwide, as the US announced it was sending more warships and Marines to the region.

Hours later, President Donald Trump said on social media that his administration in fact was considering "winding down" military operations in the region. His post came after another climb in oil prices plunged the US stock market.

The mixed...