Two Iranian Revolutionary Guard crews seized cargo vessels in the Strait of Hormuz on Wednesday, raising doubts about a second round of U.S.–Iran talks slated for Islamabad. Prime Minister Shehbaz Sharif met Iran’s ambassador, insisting that the diplomatic window remains open. Pakistani officials say a new conference could convene within days for all participants today.

The cease‑fire that President Trump extended after a request from Sharif and Army Chief Field Marshal Asim Munir now faces a new wrinkle. Vice President Jake Vance postponed his Islamabad visit hours after the extension, signaling uncertainty in Washington’s negotiating posture for the broader regional stability.

Pakistani mediators report positive signals from Tehran, though Iran’s foreign ministry remains cautious, noting that a return to Islamabad hinges on U.S. actions in the Strait. Interior Minister Mohsin Naqvi and intelligence chief Asim Munir have been negotiating with Iran’s President Masoud Pezeshkian and General Ali Abdollahi to secure a second round.

The incident feeds into market volatility for oil and shipping indices, as uncertainty over the Strait’s security can tighten freight rates and spike crude prices. Investors watching U.S.–Iran diplomacy must weigh the risk that a stalled dialogue could trigger renewed sanctions or disrupt supply chains, potentially eroding regional economic stability.