Iran said it is reviewing the latest US proposal aimed at avoiding a new conflict. Officials said talks are being guided by Tehran’s earlier 14 point peace framework.
Iran wants the Strait of Hormuz to be reopened and US restrictions on Iranian ports lifted before broader nuclear negotiations move forward.
Tehran is also seeking guarantees that fighting will stop across all fronts, including Lebanon. It has additionally called for the release of frozen Iranian assets.
According to ISNA, Pakistan’s Army Chief visited Tehran to help narrow remaining differences and support an official announcement of an agreement. Reports also suggest he is pushing for a formal memorandum of understanding (MoU).
Pakistani sources said enriched uranium remains the biggest obstacle in US-Iran negotiations, while reopening the Strait of Hormuz has become a secondary issue. The US continues to suspect Iran could eventually pursue a nuclear weapons program.
President Donald Trump said diplomacy with Iran is entering its final stage, raising hopes that a potential agreement could be reached soon.
Meanwhile, two senior Iranian officials told Reuters that Iran’s Supreme Leader has ordered that near weapons grade uranium remain inside the country.
After the report, US stock futures fell, with S&P 500 futures down 0.25%, Nasdaq 100 futures down 0.35%, and Dow futures down 0.09%.
The US Dollar Index rose 0.14% to 99.27, while WTI crude oil jumped to $101 per barrel and Brent crude climbed above $107.50 on concerns about potential supply disruptions.
Separately, IEA chief Fatih Birol warned that global oil markets could enter a “red zone” in July and August as fuel demand rises during the summer and oil inventories decline.
He also said he hopes the Strait of Hormuz reopens fully and without restrictions to help maintain stable energy supplies and support market stability.
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