The story

President Donald Trump halted a two-week bombing campaign against Iran over the weekend after military commanders advised him they were running out of targets. The chairman of the Joint Chiefs of Staff, General Dan Caine, expressed concern over the depletion of air defense munitions, according to a U.S. official. The 13-night operation struck military targets, bridges and tunnels aimed at breaking Iran's grip on the Strait of Hormuz.

Iran said it would suspend its own attacks for as long as the U.S. pause endures. Iranian Foreign Ministry spokesman Esmail Baghaei rejected U.S. claims that Tehran was seeking renewed talks, saying reports about Iran requesting negotiations with the U.S. are fabricated. Iran said it remained in control of the Strait of Hormuz, with state media claiming six ships were turned back after attempting to cross without Tehran's permission.

Oil prices fell sharply on the pause. Brent crude, which had briefly ticked above $100 a barrel last week for the first time since May, fell around 6.5% on Monday to just over $90, having touched levels as low as $87.55. U.S. West Texas Intermediate crude dropped over 5% to $84.84 a barrel. Multiple drone attacks were reported Monday in Saudi Arabia, Jordan and Iraq, in what appeared to be tests of the ceasefire. Israeli Prime Minister Benjamin Netanyahu is due to meet Trump in Washington on Tuesday.