Pakistan's Foreign Ministry says there is a possibility of extending the 60-day MOU period between the US and Iran. Note, some reports citing sources suggest that the sides have "agreed" to extend the ceasefire.

Ceasefire extensions brokered through third-party intermediaries have a familiar shape in this file: the initial truce is rarely the end state, and each rollover has historically traded a modest risk premium reduction for fresh uncertainty about what follows the next expiry. The notable element here is the intermediary, with Pakistan in the chair rather than the Gulf or European channels that have typically hosted US-Iran contact, a choice that says something about which capitals both sides currently trust. The distinction that matters for crude is between a genuine negotiating extension, which compresses the geopolitical premium embedded in the front of the oil curve and softens freight and insurance costs on Gulf transit, and a cosmetic pause that merely defers escalation; past episodes have shown the market pricing the former quickly and re-pricing just as fast when talks stall. Source-reported claims of agreement, absent confirmation from Washington or Tehran themselves, have tended to be the least reliable signal in these sequences. Worth watching is whether either principal government confirms, and whether the extension carries any scope beyond the ceasefire itself, since broadening the agenda has historically been the tell for whether a truce becomes a framework.