INTRO: U.S. President Donald Trump has agreed to a proposal from Pakistan's Prime Minister to hold off on a promised military escalation against Iran for a period of two weeks, contingent to Iran agreeing to completely open the Strait of Hormuz. Earlier, Pakistan's Prime minister, Shehbaz Sharif - in his role as mediator along with Egypt, Türkiye and Saudi Arabia - indicated on social media that diplomatic efforts for a peaceful settlement of the conflict were progressing steadily with the potential to lead to substantive results in the near future. Pakistan also requested Iran to open the Strait of Hormuz as a goodwill gesture and for all warring parties in the region to cease fire for two weeks to allow diplomacy to achieve a conclusive termination of the war. Sherwin Bryce-Pease reports that the oil price continues to drop on the news...