Pakistan is exploring a path toward a resumption of US – Iran talks. Oil moves lower

 Reuters, citing sources, reports that Pakistan is attempting to revive a path toward renewed U.S.-Iran talks aimed at ending the conflict. Markets have seen similar headlines before, but the report has nevertheless helped improve risk sentiment.

In other recent news from the Middle East

• Oman delegation travels to Tehran
  An Omani diplomatic delegation has arrived in Tehran to discuss mechanisms related to the Strait of Hormuz, according to Iran's IRNA news agency. Oman has traditionally served as a mediator between Iran and the United States, making the visit significant as diplomatic efforts continue alongside the military conflict.
• Iran rejects temporary ceasefire
  Iranian Foreign Minister Abbas Araghchi said Tehran will not accept a temporary ceasefire. He stated that the issue will not even be considered unless Iran's demands regarding the Strait of Hormuz are addressed, signaling that Iran continues to tie any diplomatic progress to its strategic objectives in the waterway.

• Iran coordinating with Russia and China
  Araghchi added that consultations with both Russia and China are ongoing and occur regularly whenever opportunities arise, highlighting Tehran's continued diplomatic coordination with its key international partners.
• Pakistan's mediation efforts acknowledged
  Araghchi said it is natural for discussions to take place with Pakistan regarding mediation initiatives and proposals. However, he argued that the obstacle to negotiations is not the lack of a mediator but rather what he described as the United States' approach to the conflict. This aligns with separate reports that Pakistan is attempting to revive U.S.-Iran diplomatic contacts.
• Iran vows to continue its campaign
  Araghchi concluded that Iran will continue its current course until what he described as the legitimate goals and demands of the Iranian people are achieved.

The latest headlines show little sign of an imminent de-escalation. While Oman has renewed diplomatic engagement with Tehran and Pakistan is reportedly trying to revive U.S.-Iran talks, Iran continues to reject any temporary ceasefire unless its demands over the Strait of Hormuz are met. At the same time, military activity remains elevated, with Kuwait intercepting hostile targets launched from Iran and Tehran reaffirming that it will continue its campaign while maintaining close consultations with Russia and China. Taken together, the developments suggest that diplomatic channels remain open, but meaningful progress toward ending the conflict appears limited as both sides continue to harden their positions.

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