U.S. President Donald Trump has indicated he will not rush to finalize a peace deal with Iran, according to reports from Bloomberg and Axios.
This comes amid ongoing diplomatic efforts to end the two-month-old conflict between the U.S. and Iran, with Trump reportedly dissatisfied with the latest peace plan proposal from Iran.
The delay adds to the uncertainty surrounding the geopolitical situation in the region, which has already had ripple effects on global markets.
The U.S. equity and energy markets have shown mixed reactions to the evolving situation.
While Trump claims the conflict has not hurt stocks and oil prices as much as expected, the prolonged uncertainty could still weigh on investor sentiment.
Energy traders are closely monitoring developments in the Strait of Hormuz, a critical shipping route for global oil supplies, for any signs of renewed disruption.