FINWIRES · TerminalLIVE
FINWIRES

US Envoys to Visit Pakistan as Iran Talks Resume Amid Ceasefire Extension

By

The White House said a US delegation will travel to Pakistan as Iran signals readiness for talks following a ceasefire extension, press secretary Karoline Leavitt said Friday.

In an emailed response toquery, the White House referred to Leavitt's public comments, without providing additional details.

US Special Envoy Steve Witkoff and Jared Kushner will depart Saturday morning for Pakistan to hold discussions with Iranian officials, Leavitt told Fox News in an interview on Friday.

Leavitt said Iranian officials want to hold talks in person and that "the President always wants to give diplomacy a chance."

On Vice President J D Vance, she said, "he'll be standing by here in the United States," but could travel to Pakistan if needed, depending on how the talks progress.

Iranian Foreign Minister Abbas Araghchi is reportedly expected to arrive in Islamabad Friday night with a small delegation to advance efforts toward restarting direct negotiations with the US.

Araghchi posted on his X, "Embarking on timely tour of Islamabad, Muscat, and Moscow. Purpose of my visits is to closely coordinate with our partners on bilateral matters and consult on regional developments. Our neighbors are our priority."

The renewed diplomatic push follows a conflict that began Feb. 28, with President Donald Trump extending the ceasefire to allow time for negotiations.

Trump said in a Truth Social post Tuesday that the US would hold off on attacking Iran "until such time as their leaders... come up with a unified proposal," following a request from Pakistan's leadership.

Related Articles

Oil & Energy

US Oil Update: Crude Rallies on Hormuz Blockade, Israel Attack Threats

Crude oil futures rallied in after-hours trading on Thursday as a double blockade of the Strait of Hormuz and the threat of Israeli strikes on Iran, fueled fears of a severe global supply crunch.Front-month West Texas Intermediate crude futures climbed by 4.35% to $97.00 per barrel, while Brent futures jumped 4.45% to $106.68/bbl."Middle East crude loadings have ticked lower, with the US blockade curbing Iranian loading volumes and threatening further regional production curtailments," RBC Capital Markets strategists said in a note on Wednesday.President Trump said in a social media post that a deal with Iran will only be made when it is "appropriate and good" for the US, following the indefinite extension of the ceasefire with Tehran agreed on April 7 earlier this week."For those people.......that think that I am 'anxious' to end the war with Iran, please be advised that I am possibly the least pressured person ever to be in this position," Trump said in a post on Truth Social.Fueling bearish sentiment, Israel's Defense Minister, Israel Katz, reportedly said on Thursday that Tel Aviv was waiting for the approval from the US to resume the war against Iran and "complete the elimination of the Khamenei dynasty."The US-Israeli alliance killed Iran's Supreme Leader Ayatollah Ali Khamenei at the start of the Middle East conflict.Meanwhile, Trump ordered the US Navy to "shoot and kill" boats laying mines in the Hormuz on Thursday, while claiming that Washington now has "total control" over the passage and directed the military to act without hesitation against Iranian small boats.US forces intercepted a sanctioned tanker in the Indian Ocean that was carrying oil from Iran ON Thursday. The interception comes a day after the US blocked the Iranian tankers M/V Hero II, M/V Hedy and M/V Dorena."We will continue global maritime enforcement to disrupt illicit networks and interdict vessels providing material support to Iran, wherever they operate," the US Department of War said in a social media post on X.Iranian officials, on the other hand, have accused the US of breaching its commitments under a 10-point framework that Iran offered at the start of a fragile ceasefire, with parliament speaker Mohammad Baqer Ghalibaf saying a full ceasefire will only make sense if the US lifts its blockade.The deputy speaker of Iran's parliament, Hamidreza Haji Babaei, said that the first tranche of tolls collected from ships passing the Hormuz has been deposited into the Iranian central bank's account, according to local media reports.Tehran attacked three vessels in the Strait and diverted two to Iranian territorial waters on Wednesday, as flows via the strategic waterway have largely ground to a halt.ING strategists said the reality of the supply disruption will set in as hopes fade, leaving further upside for prices.

Oil & Energy

US Oil Update: Futures Climb on US-Iran Naval Standoff Over Hormuz

Crude oil futures advanced in midday trading on Thursday after President Trump threatened to attack ships laying mines in the Strait of Hormuz, stoking concerns over potential disruption to global oil flows through the key shipping chokepoint.Front-month West Texas Intermediate crude futures climbed by 4.09% to $96.76 per barrel, while Brent futures were up 3.70% to $105.68/bbl.US crude stockpiles rose by 1.9 million barrels to 465.7 mmbbls in the week ended April 17, the Energy Information Administration said in its weekly report on Wednesday. Crude inventories are now about 3% above the five-year average for this time of year, the EIA said.The agency said that US gasoline stocks fell by 4.6 mmbbls to 228.4 mmbbls and distillate stockpiles by 3.4 mmbbls to 108.1 mmbbls.ING strategists said that, though the US market has been relatively shielded from Middle East supply disruptions, prolonged instability is tightening conditions as global buyers increasingly turn to US supplies.Meanwhile, the US and Iran seized commercial ships in the Strait this week, as the two sides compete for control of the strategic waterway despite the extension of a ceasefire after a request from Pakistan.On Thursday, the US Department of War said its forces intercepted a sanctioned tanker in the Indian Ocean that was carrying oil from Iran. The interception comes a day after the US blocked the Iranian tankers M/V Hero II, M/V Hedy and M/V Dorena."We will continue global maritime enforcement to disrupt illicit networks and interdict vessels providing material support to Iran, wherever they operate," the Department said.Trump said on Thursday that he had ordered the US Navy to "shoot and kill" boats laying mines in the Hormuz, while claiming that Washington now has "total control" over the passage and directed the military to act without hesitation against Iranian small boats.Iranian officials, on the other hand, have accused the US of breaching its commitments under a 10-point framework that Iran offered at the start of a fragile ceasefire, with parliament speaker Mohammad Baqer Qalibaf saying a full ceasefire will only make sense if the US lifts its blockade.The deputy speaker of Iran's parliament, Hamidreza Haji Babaei, also said that the first tranche of tolls collected from ships passing the Hormuz has been deposited into the Iranian central bank's account, according to local media.Soojin Kim, research analyst at MUFG, said the conflict has sharply reduced energy flows from the Arabian Gulf, driving a rally in oil prices, while falling US inventories and record exports highlight growing reliance on American supplies to offset shortages.

Oil & Energy

EMEA Oil Update: Crude Rises on Trump Remarks on Hormuz Security Risks

EMEA crude futures rose in after-hours trading on Thursday after President Trump ordered the US Navy to "shoot and kill" Iranian vessels attempting to mine the Strait of Hormuz, as the two countries maintain restrictions on the flow of trade via the strategic waterway.Brent crude futures advanced by 1.58% to $103.47 per barrel, while Murban oil futures were up 1.14% to $104.29/bbl."Oil prices rose for a fourth straight session... as tensions between the US and Iran intensified following failed peace talks and an ongoing battle over the Strait of Hormuz," said Soojin Kim, research analyst at MUFG.Though Trump extended a ceasefire with Iran after a request from Pakistan, the two countries are still restricting the transit of ships via the key energy chokepoint, which handled about 20% of daily global oil supplies until the start of the Middle East conflict.The US President said on Thursday that he had ordered the US Navy to "shoot and kill" boats laying mines in the Hormuz, while claiming that Washington now has "total control" over the passage and directed the military to act without hesitation against Iranian small boats.On Thursday, the US Department of War said its forces intercepted a sanctioned tanker in the Indian Ocean that was carrying oil from Iran. The interception comes a day after the US blocked the Iranian tankers M/V Hero II, M/V Hedy and M/V Dorena."We will continue global maritime enforcement to disrupt illicit networks and interdict vessels providing material support to Iran, wherever they operate," the Department said.Iranian officials have accused the US of breaching its commitments under a 10-point framework that Iran offered at the start of a fragile ceasefire, with parliament speaker and top negotiator Mohammad Baqer Qalibaf saying a full ceasefire would only make sense if the US lifts its blockade.The deputy speaker of Iran's parliament, Hamidreza Haji Babaei, said that the first tranche of tolls collected from ships passing the Hormuz has been deposited into the Iranian central bank's account, according to local media."The key question is thus timing of the reopening. The market may now be on the verge of a shift from 'a deal is imminent' to 'this may take much longer'," Bjarne Schieldrop, chief commodities analyst at SEB, said.The fees charged reportedly vary from ship to ship, depending on their type, size and cargo. The collected fees are being deposited into a single account, and decisions on how to spend funds will be made later, according to media reports.On Wednesday, Iran's Islamic Revolutionary Guards attacked three vessels and diverted two to Iranian territorial waters. Both vessels are operated by MSC, according to MarineTraffic.ING strategists said the reality of the supply disruption will set in as hopes fade, leaving further upside for prices.