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Pakistani officials with direct knowledge of U.S.-Iran talks say they expect a revised Iranian proposal to end the ongoing conflict by end of week, with a potential in-person meeting between both sides early next week. Conflicting reports from Israeli media suggest Israel may announce a failure of negotiations, though the article notes skepticism around that claim. WTI crude oil reversed sharply from a high of $110.93 to $104.41, and equities moved to session highs on the Pakistan headline and oil pullback.

Oil prices are extending gains as a deadlock in the US-Iran conflict continues to keep Iranian supply off the market. The geopolitical standoff is sustaining upward pressure on crude prices. No specific resolution or escalation is reported, with the situation described as an ongoing stalemate.

U.S. President Trump posted an AI-generated image of himself with a gun on TruthSocial, appearing to threaten Iran, which contributed to continued rising oil prices on Wednesday. The geopolitical provocation raises concerns about potential escalation in the Middle East. No specific policy action or military move has been confirmed.

President Trump stated that Iran wants the US to open the Strait of Hormuz as soon as possible, signaling potential easing of tensions around one of the world's most critical oil shipping chokepoints. The Strait of Hormuz handles roughly 20% of global oil trade, making any developments there highly consequential for energy markets. No specific policy action or agreement has been confirmed in this report.

Oil prices rose amid ongoing Middle East geopolitical tensions, adding a risk premium to crude markets. The Japanese yen firmed following the Bank of Japan's decision to hold interest rates steady at its latest policy meeting. No specific corporate tickers are cited in the article.