News / International Relations

Vance writes to Iran hard-liner Rezaei to revive talks as Trump weighs new strikes

For oil, the report adds a two-way risk ahead of next week’s midterms. A credible negotiating channel offers the first sign in months that Hormuz shipping could eventually be unlocked, which would ease the supply premium. But the contacts cover only a framework, and Trump continues to signal strikes. That leaves the market exposed to a sharp upside move if talks fail and an attack follows. Rezaei’s recent threats against the UAE add another layer of Gulf supply risk, so traders are likely to keep paying for protection until there is clarity on Trump’s decision. --- Washington is talking to Teh

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