Oil prices fell more than 5%. U.S. stocks plunged into the red but have narrowed their losses compared to earlier in the session. Gold prices recovered strongly, surpassing the $4,500/oz mark. Bitcoin also returned above $70K.

🇺🇸🇮🇷 Many details about the negotiations have emerged:

- Pakistan confirms it is mediating and is ready to organize negotiations if both sides agree.

- The Iranian Foreign Ministry acknowledged that it has received a request for negotiations from the U.S. through several intermediary countries.

- According to CNN, Iran wants to negotiate with US Vice President JD Vance instead of Middle East envoys Witkoff and Kushner.

- President Trump reaffirmed that the US and Iran are negotiating right now. He revealed that Iran has made a significant concession regarding the energy sector and called it a 'huge gift.'

- US and Israeli media reported: The US has sent Iran a plan to end the conflict consisting of 15 points. This reveals that it will strictly limit Iran's nuclear program and reopen Hormuz. In return, Iran will have sanctions lifted. The US is seeking a one-month ceasefire to negotiate based on this proposal.

- The US and Iran have not officially commented on this information.

Hormuz temporarily cools down:

- Iran notified the International Maritime Organization (IMO) for almost all ships passing through, except for the US and Israel.

- According to Bloomberg, Iran began charging some ships passing through the Strait of Hormuz up to $2M/ trip in Chinese yuan depending on the case.

However, both sides are still preparing for a worst-case scenario:

- The US is deploying an additional ~3,000 soldiers from the 82nd Airborne Division to the Middle East, likely preparing for the option of sending ground troops into Iran if negotiations fail.

- Iran has also appointed former IRGC commander Zolghadr to replace Larijani (who has died) as the new security chief. The appointment of a battle-hardened individual shows that Iran may maintain a hardline stance on national security.