The United States and Iran have agreed on a comprehensive roadmap aimed at securing a final peace agreement within 60 days, following the conclusion of their first round of direct negotiations in Switzerland.
The talks, which ended on June 21, represent a significant diplomatic shift despite recent escalatory rhetoric from Washington.
Pakistan, acting as a mediator, confirmed the breakthrough, signaling a coordinated international effort to stabilize the region.
The agreement comes against a backdrop of heightened geopolitical risk, with Tehran having previously announced the closure of key shipping routes.
The prospect of a structured de-escalation process is likely to weigh on the risk premium currently supporting oil prices.
Markets have been pricing in the potential for supply disruptions in the Strait of Hormuz; a credible path toward peace could see that premium unwind, putting downward pressure on Brent crude and other energy benchmarks.