High-level negotiations between the United States and Iran in Switzerland have concluded early Monday, with mediators citing "encouraging progress" toward establishing a direct line of communication to prevent further escalation.
The talks, which aimed at securing a permanent end to the conflict, ended without a final agreement but with both sides agreeing to maintain dialogue channels.
The diplomatic process faced significant turbulence over the weekend when Iranian negotiators threatened to walk out following President Trump’s threats to resume military attacks and take control of the Strait of Hormuz.
Despite the disruption, mediators from Pakistan and Qatar confirmed that the two nations have agreed on a roadmap toward a final peace deal, building on the first round of direct negotiations.
Markets are closely monitoring the development as the Strait of Hormuz remains a critical chokepoint for global energy supplies.
Any de-escalation in tensions could reduce shipping risk premiums, while continued threats of disruption keep pressure on oil prices.