Iran President Pezeshkian says we will sit with the mediators to crystallize the final proposal and confirm it, reports Al Arabiya

Indirect, intermediary-brokered exchanges between Tehran and Washington have followed a familiar rhythm across past negotiating rounds: proposal, counter-proposal, amendment, then a period of silence punctuated by public signalling from each side aimed as much at domestic audiences as at the counterparty. The detail that amendments were introduced matters more than the confirmation language, since negotiated texts at this stage typically narrow over successive rounds rather than conclude in one. The operative distinction for crude is between a framework that touches sanctions relief and Iranian export volumes, which feeds directly into the prompt end of the oil curve and Atlantic basin differentials, and one confined to de-escalation or nuclear sequencing, which tends to bleed the geopolitical premium slowly rather than remove it at a stroke. Pezeshkian's track record is that of a negotiator operating within limits set elsewhere in the Iranian system, so rhetoric from the presidency has historically carried less weight than signals from the security establishment or the supreme leader's office. Worth watching is whether the other side characterises the same exchange similarly, since asymmetric readouts have been a reliable tell that a round is stalling, and whether freight, insurance and physical crude spreads corroborate any repricing in futures.