High-level peace negotiations between the United States and Iran have stretched into their second day in Switzerland, though progress remains stalled amid fresh diplomatic friction.
A U.S. official confirmed that while the top-tier talks are scheduled to conclude on Monday, technical working groups will continue their discussions.
The extension comes against a backdrop of heightened tensions, including public threats from President Donald Trump that have complicated the diplomatic atmosphere in Bürgenstock.
The market implication of the stalled diplomacy is immediate and severe for global energy flows.
With the Strait of Hormuz effectively closed to commercial traffic, Brent crude prices are holding firm at elevated levels as traders price in persistent supply disruption risk.
The closure has reduced vessel traffic through the chokepoint to a trickle, with only five vessels recorded in transit, according to recent monitoring data.