U.S.-Iran peace talks stall. Here's where things stand — and what's next for global markets

Global markets are entering the week balancing resilient risk appetite against renewed geopolitical strain as prospects of U.S.-Iran negotiations took a hit over the weekend. U.S. President Donald Trump scrapped plans to send envoy Steve Witkoff and Jared Kushner to Islamabad for talks with Iran on Saturday, citing "tremendous infighting and confusion" within Tehran's leadership. Iran's foreign minister Abbas Araghchi made a brief return to Islamabad on Sunday as Pakistan's leaders pushed to revive ceasefire talks between Tehran and Washington , though Trump said discussions could instead take place over phone . Araghchi has reportedly departed Islamabad for Moscow . Iran has offered a new proposal to the U.S. for reopening the Strait of Hormuz and end the war, while shelving nuclear talks to a later date, Axios reported, citing a U.S. official and two sources with knowledge of the matter. Amid lingering uncertainty over the critical energy waterway and the Iran war, oil prices inched higher Monday, reinforcing a persistent risk premium in energy markets. International benchmark Brent oil futures rose around 1% to $106.55 per barrel while U.S. crude oil added 0.88% to $95.23 per barrel. Goldman Sachs now expects oil prices to stay higher for longer, raising its Brent forecast to $90 a barrel by late 2026 from $80 previously, as disruptions in the Persian Gulf prove more persistent than earlier assumed. …