The United States and Iran made progress in nuclear talks held in Geneva on Tuesday, according to Bloomberg Markets. Iranian negotiators are scheduled to return in two weeks with a new proposal, signaling potential movement in the long-stalled negotiations.

These talks come amid renewed tensions following threats from former President Donald Trump to reimpose sanctions if a deal isn't reached. The negotiations represent the first significant diplomatic engagement between the two nations since the collapse of the 2015 nuclear agreement. Regional markets have been closely watching developments, with oil prices reacting to any signs of progress or breakdown in talks.

The scheduled return of Iranian negotiators in two weeks provides a concrete timeline for the next phase of discussions. While details of the progress made remain limited, the fact that both sides are continuing dialogue suggests neither party is willing to completely abandon diplomatic channels despite the challenging political environment.