Despite recent attacks between the US and Iran, officials from both sides said they will continue negotiations; Iran has stipulated conditions that must be met before talks can proceed. The outcome of these talks will affect oil supply flows through the Strait of Hormuz, influence sanctions relief for Iranian crude, and shape broader geopolitical risk in the Middle East. US State Department and White House officials, Iranian Foreign Ministry representatives, and observers from Gulf states and international agencies. Further diplomatic contacts are expected in early July, with possible confidence‑building measures; market watchers will monitor for any new attacks or concessions that could shift the risk balance. Both Washington and Tehran have signalled a willingness to keep talking after the latest round of military exchanges, even though Iran has laid down clear preconditions for any negotiation. The statement comes amid a pattern of escalation and de‑escalation that has repeatedly tested the stability of the Strait of Hormuz and influenced global oil prices. Analysts note that as long as the dialogue continues, the risk of a full‑blown closure of the Gulf remains limited, but any breakdown could quickly reignite market jitters.
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