Commodities
US, Iran Renew Peace Talks Amid Ongoing War
US and Iranian officials have been in mediated talks to end seven months of war. The conflict began in late February when US and Israeli attacks on Iran killed thousands of people, shocking global markets as vital waterways for oil remained choked.
An amended version of a seven-day proposal that Iran presented last week will be the focus of further negotiations. The plan includes an end to all hostilities in Iran and Lebanon, unfreezing billions of dollars' worth of Iranian assets, lifting US sanctions on Iranian oil, and reopening the Strait of Hormuz.
Iranian Foreign Minister Abbas Araghchi said that only a negotiated solution could resolve the impasse. He noted that any move to reopen the Strait is contingent on conditions being met.