The United States and Iran have flagged early progress in discussions to end the war. JD Vance stated that extensive discussions with senior Iranian officials have established a good foundation for a comprehensive final peace deal.
An interim deal between the two nations is unlocking more supply that was stuck in the Gulf. As a result, more tankers are openly crossing the Strait of Hormuz.
These developments have impacted global markets, with Brent oil falling below $75 for the first time since the Iran war began. However, oil prices were up in Asia amid conflicting signals from the ongoing talks between the U.S. and Iran.