Diplomatic talks between the United States and Iran are set to resume in Pakistan, according to a Bloomberg report.
The move follows ongoing tensions in the Strait of Hormuz, where shipping activity remains under threat.
The Strait of Hormuz is a vital artery for global oil trade, with over 20 million barrels per day passing through the narrow waterway.
The Strait, a critical global energy chokepoint, has seen heightened risks in recent weeks, prompting concerns over potential disruptions to oil and freight flows.
Energy markets have reacted to the geopolitical uncertainty, with Brent crude prices showing sensitivity to developments in the region.
The market is for signs of escalation or de-escalation, as any prolonged disruption could have significant implications for global energy supply chains.
The Strait of Hormuz is a vital artery for global oil trade, with over 20 million barrels per day passing through the narrow waterway.