Iran war: What's happening on day 60 as diplomacy gathers pace?
The Trump administration is reviewing Iran's peace plan to reopen the Strait of Hormuz. Nuclear talks may be deferred to a later stage. However, elevated oil prices signal the conflict continues.
On day 60 of the Iran war, diplomacy efforts appear to be accelerating. Trump's team is reviewing Iran's proposal regarding reopening the Strait of Hormuz. The negotiation process remains complex, with proposals to defer nuclear discussions to later stages.
Brent crude continues to hover around and above $110 per barrel. As the framework of peace negotiations remains unclear and Trump cancels the delegation to Pakistan, the balance of negotiating power shows confusion. It remains uncertain when the API embargo restricting Iran's oil exports will be lifted.
Instability in the Middle East continues to threaten global energy supply chains. Ongoing conflicts in Syria, Lebanon, and Iraq further complicate a regional solution. International trade continues to be affected by this war, which creates uncertainty in the world's most critical waterway.
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