Iran’s reformist president Masoud Pezeshkian urged using every diplomatic channel to ease tensions after a U.S. attack on a cargo ship, while holding firm against threats. His remarks came amid stalled talks and growing mistrust, as Tehran has yet to pledge another peace round with Washington.

Oil prices surged as markets reacted to the flare‑up, with Brent climbing to $78 a barrel and U.S. crude edging up 2.1%. The spike reflects investors’ concerns that renewed hostilities could tighten supply and push prices higher, affecting global energy budgets and refinery margins. This volatility also pressures airlines and shipping firms to hedge fuel costs aggressively.

Donald Trump announced a U.S. delegation would travel to Pakistan for peace talks before the ceasefire deadline, but Iranian security outlets said negotiators would refuse Islamabad visits while the U.S. blockade remains. The standoff risks turning into a broader conflict that could disrupt maritime routes and elevate insurance premiums for global shipping companies.

The crisis also sharpens scrutiny of U.S. sanctions enforcement, as any escalation could prompt tighter restrictions on Iranian oil exports, further tightening the market. Investors will monitor Washington’s diplomatic moves closely, as even minor shifts could ripple through global commodity indices and trigger reassessments of risk premiums.