Following the attack, oil prices surged to around $120 per barrel, but fell by about $10 to just over $90 per barrel on Friday. 2 percent on Friday, though smaller crises still prevail in several parts of the world. The declared ceasefire has a deadline on Wednesday, creating a time window to reach a goal.
According to Dagens Nyheter, Robert Bergqvist described that the talks are still continuing, with both sides raising stakes but not leaving the negotiating table. He also noted that both sides say they are making progress in the negotiations, though the exact outcome by the deadline remains unclear. Iranian Foreign Minister Abbas Araghchi announced that commercial traffic was free to pass through the Strait of Hormuz on Friday, but the strait has now essentially closed again.
There is so much psychology in this that makes it difficult to say anything. The declared ceasefire has a deadline on Wednesday so there is a time window to reach a goal.
During the weekend, at least two ships were shot at, with only some of the around 2,000 ships stuck in the Persian Gulf able to pass, leaving the exact current status of commercial traffic uncertain. The Iranian economy was already in deep crisis before the war, leading to nationwide protests. According to Dagens Nyheter, Robert Bergqvist described that the US cannot handle higher interest rates given its high public debt, with Donald Trump verbally trying to influence markets when they decline.
What you see, if you read between the lines of everything that is happening, is that the talks are still continuing. The parties are raising the stakes in the hope of getting a better outcome, but no one has left the negotiating table and that must still be seen as positive.
Possibly we were a bit too naive on Friday. What you should think about with wars is that they are never linear even though we have a tendency to believe it, that they should follow a certain movement pattern. With that follows that peace talks are not either, but the optimist in me notes that both sides say they are making progress in the negotiations.
You can call it pain thresholds or 'taco' behavior, but it is so obvious that Donald Trump is constantly taking steps back and verbally trying to influence when the stock markets go down or interest rates go up. The US cannot handle higher interest rates given the high public debt it has.