Pakistani military chief Field Marshal Asim Munir and Prime Minister Shehbaz Sharif have returned home following a three-day diplomatic visit to Tehran, where they engaged Iran's top leadership and peace negotiators amid the ongoing Iran conflict. The visit signals Islamabad's active positioning as a regional interlocutor at a moment of elevated military tension involving a neighboring state. Munir's direct engagement with Iranian leadership is notable given Pakistan's historically complex relationship with both Iran and Gulf states, whose competing interests constrain Islamabad's diplomatic maneuverability. The substance of any proposed ceasefire framework or mediation terms was not disclosed publicly. Observers will watch for follow-on diplomatic movement, whether Tehran signals receptivity to Pakistani mediation, whether Islamabad engages Gulf or Western counterparts next, and whether the visit produces any measurable de-escalation. Pakistan's ability to sustain a credible broker role will depend on whether both sides treat Islamabad as a trusted neutral rather than a proxy for competing interests.
Qatar's foreign ministry said mediators including Qatar, Pakistan, and Oman have reached "very progressive stages" in efforts to end the US-Iran war, pushing Brent crude down more than four percent.
Qatar confirmed it is mediating between the US and Iran but said no direct talks are currently planned. The clarification follows conflicting statements from President Trump, who claimed talks are under way, and Tehran, which denied any dialogue is happening.
Saudi Aramco reported sharply higher second-quarter 2026 profits as the Iran war restricts global oil supply and pushes crude prices up. Other oil supermajors also posted outsized earnings, raising concerns about sustained fuel cost pressure for importing economies.
President Trump called current Iran negotiations the "last chance" to end five months of conflict, pushing oil prices higher. Tehran denied formal talks are taking place, raising the risk of a diplomatic breakdown with direct consequences for global energy markets.
