The first round of direct negotiations between the United States and Iran has concluded with both sides agreeing on a roadmap toward a final peace deal.
Mediators from Pakistan and Qatar confirmed the development, signaling a potential de-escalation in the Middle East conflict that has weighed on global markets.
US Vice President JD Vance described the progress as "good," noting that the talks in Switzerland laid a solid foundation for a comprehensive agreement.
The diplomatic breakthrough comes after weeks of heightened tensions that disrupted shipping routes and elevated energy prices.
Markets responded positively to the news, with Brent crude futures easing as traders priced in a lower probability of prolonged supply disruptions.
The Strait of Hormuz, a critical chokepoint for global oil shipments, saw reduced risk premiums as the prospect of a negotiated settlement gained traction.