Reuters, citing sources, reported that Pakistan is trying to reopen a path toward renewed talks between the United States and Iran aimed at ending the conflict. Similar headlines have appeared previously, but the report coincided with stronger U.S. equities and further losses in crude oil. Pakistan shares a long border with Iran and has historically maintained relationships with both Tehran and Washington, which has at times positioned it as a potential intermediary in regional disputes.

U.S. stocks moved higher after the report. The Dow Jones Industrial Average was up about 350 points, or 0.67%, at 52,063. The S&P 500 gained 39 points, or 0.52%, to 7,447.13. The Nasdaq recovered from a session low of minus 219.60 points and was fluctuating around unchanged near 25,139.

Crude oil extended its decline, trading at $88.25, down nearly $4.00 on the day. From a technical perspective, the next important support zone is between $86.66 and $87.07. The $87.07 level represents the broken 38.2% retracement of the decline from the March high to the July low, while $86.66 is where the rising 100-hour moving average is located.

The 100-hour moving average has been an important reference point for buyers. Crude has held above that level since July 6, apart from a few brief dips. A sustained move below it would shift attention toward the rising 200-hour moving average at $83.42 and would give sellers greater technical control.

On the upside, crude's rally stalled earlier this week after testing the 50% retracement of the decline from the 2026 high at $93.26. The failure to break above that level drew willing sellers and reinforced it as an important resistance area.

Other recent Middle East developments

An Omani diplomatic delegation has arrived in Tehran to discuss mechanisms related to the Strait of Hormuz, according to Iran's IRNA news agency. Oman has traditionally acted as a mediator between Iran and the United States, making the visit notable as diplomatic efforts continue alongside the military conflict. The Strait of Hormuz is one of the world's most critical oil shipping chokepoints, through which roughly a fifth of global oil consumption transits, making any threat to the waterway directly relevant to energy markets.

Iranian Foreign Minister Abbas Araghchi said Tehran will not accept a temporary ceasefire. He said the issue will not even be considered unless Iran's demands concerning the Strait of Hormuz are addressed, indicating that Iran continues to link any diplomatic progress to its strategic objectives in the waterway.

Kuwait's Defense Ministry said its air defenses are currently intercepting hostile targets launched from Iran. The report highlights that the regional conflict continues to extend beyond Iran and Israel, with Gulf states remaining on high alert. Kuwait sits north of the Strait of Hormuz and borders both Iraq and Saudi Arabia, placing it within range of regional escalation pathways.

Araghchi also said Iran has shown that it will not be bullied by the United States and will not respond to what he described as the language of force, pressure and threats.

The Iranian foreign minister added that consultations with Russia and China are continuing and take place regularly whenever opportunities arise. His comments pointed to Tehran's continued diplomatic coordination with two of its key international partners. Both Russia and China are parties to the 2015 Iran nuclear agreement alongside the United States, the United Kingdom, France, and Germany, providing a multilateral framework that predates the current conflict.

Araghchi said it is natural for talks to take place with Pakistan regarding mediation initiatives and proposals. However, he argued that the obstacle to negotiations is not the absence of a mediator, but what he described as the United States' approach to the conflict. The comments align with separate reports that Pakistan is attempting to revive diplomatic contacts between Washington and Tehran.

Araghchi concluded that Iran will continue its current course until what he called the legitimate goals and demands of the Iranian people are achieved.

The latest headlines show limited evidence of imminent de-escalation. Oman has renewed diplomatic engagement with Tehran, and Pakistan is reportedly trying to revive U.S.-Iran talks. At the same time, Iran continues to reject any temporary ceasefire unless its demands over the Strait of Hormuz are met.

Military activity also remains elevated. Kuwait has reported intercepting hostile targets launched from Iran, while Tehran has reaffirmed that it will continue its campaign and maintain close consultations with Russia and China. Taken together, the developments indicate that diplomatic channels remain open, while meaningful progress toward ending the conflict remains limited as both sides continue to hold firm positions.