US Secretary Rubio sees progress in Iran talks but says 'not there yet'

U.S. Secretary of State Marco Rubio said at a press briefing alongside India's Foreign Minister Subrahmanyam Jaishankar: 'There is progress in the areas of the Hormuz toll regime, the transfer of enriched uranium stockpiles, and freezing the missile program; however, I cannot say we are 'there' until the final text comes together in the next two to three weeks.' The remarks came after the U.S.-India bilateral meeting in New Delhi.

Oman and Pakistan are conducting mediation that involves parallel meetings in Muscat and Islamabad. On the Iranian side, President Pezeshkian's special envoy Abbas Araghchi is coordinating; on the U.S. side, White House National Security Advisor Mike Waltz. Iranian negotiating team spokesperson Ali Bagheri Kani said in a statement Friday evening: 'The talks show both sides are taking practical steps toward a durable agreement; however, building trust rather than displaying force is fundamental.'

Oil prices fell from $102.30 to $99.90 a barrel on Brent crude after Rubio's statement; WTI dropped from $97.80 to $95.40. Goldman Sachs global commodities analyst Jeff Currie wrote in a note: 'Markets are now pricing a 55 percent probability of a successful conclusion; however, the risk premium remains in the $8-10 range.' In the U.S. Congress, Senator Bernie Sanders's joint resolution limiting Trump's military authority on Iran will be voted on next Tuesday. Turkish Presidential Spokesperson Akif Çağatay Kılıç wrote on X: 'Türkiye supports all diplomatic channels for peace.'