U.S. and Iranian officials engaged in indirect discussions mediated by Qatar, focusing on a revised ceasefire framework amid a backdrop of rising Middle Eastern crude exports.
Iranian Foreign Minister Abbas Araghchi indicated that he expects a response from Washington regarding Iran's proposal, which includes the release of frozen funds and lifting sanctions on oil, with a timeline for nuclear talks. President Trump dismissed the proposal as 'unacceptable' but acknowledged ongoing separate communications with mediators.
The situation remains tense, particularly in the Strait of Hormuz, where oil clearance rates are significantly below pre-war levels. The ongoing conflict is also affecting U.S. fuel markets, with diesel prices nearing record highs, prompting the Trump administration to consider an export ban that could further impact domestic oil supply.
The outcome of these talks could have significant implications for oil prices and market stability