US, Iran Reach Political Understanding; Final Deal Still Pending

The US and Iran have reached a political understanding, though a final agreement has yet to be completed. Markets are watching whether the negotiations can move into the final stage.

Walter Bloomberg reported on May 29 that a senior Iranian source said the US and Iran had reached a political understanding. The source added that the agreement has not yet been finalized.

In recent weeks, Washington and Tehran have discussed a package that includes extending a ceasefire, resuming nuclear talks and restoring normal conditions in the Strait of Hormuz. The two sides have reportedly found common ground on major principles, but detailed terms still need to be worked out and approval procedures remain.

Earlier reports said US and Iranian negotiators had agreed on a draft memorandum of understanding to extend a ceasefire by 60 days. Final approval by US President Donald Trump and Iran's top leadership has not yet been confirmed.

Markets are assessing whether progress in US-Iran talks could affect global financial markets, including international oil prices, gold and dollar flows. Key differences remain over uranium enrichment and the scope of sanctions relief, leaving uncertainty over whether the talks will reach a final agreement.