Pakistan says it continues to activate direct and indirect diplomatic channels between the US and Iran, Al Arabiya reports; working to bring both sides to the negotiating table in Islamabad

Third-party mediation headlines of this kind are a recurring feature of US-Iran tension cycles, with various regional and neutral states having historically offered channels, hosting, or shuttle diplomacy, and the market read has generally tracked whether the interlocutor is seen as having genuine access to both sides. Pakistan's position is notable in that it borders Iran and maintains working ties with Washington, though past episodes of offers to host talks have more often signalled intent than produced scheduled negotiations. For crude, the established pattern is that de-escalatory diplomatic noise trims the geopolitical risk premium in WTI and Brent only modestly on the headline itself, with the larger moves reserved for confirmation that principals have agreed to meet or, conversely, for a breakdown. The distinction that matters is between back-channel contact, which tends to cap rallies, and a formalised track with dates and delegations, which historically has been what durably compresses the premium. The follow-ons are any response from Washington or Tehran confirming participation, and whether the Iranian side frames this as direct or indirect engagement, since Tehran has on previous occasions publicly disavowed intermediaries. Headline risk runs both ways: an absence of confirmation has tended to fade the initial reaction.