India, March 24 -- The United States has temporarily stepped back from planned military action against Iran, raising cautious hopes that one of the world's most important shipping routes could reopen soon.

US President Donald Trump announced a five-day delay in strikes targeting Iranian energy infrastructure, claiming that discussions with Tehran showed signs of progress. The move came at a time when global markets were under pressure due to the ongoing Middle East conflict and the continued disruption in oil supplies.

Trump suggested that if negotiations move forward successfully, the Strait of Hormuz, a vital route for global energy shipments, could resume operations in the near future. The waterway has remained largely blocked during...