Wall Street Hits New Record on Peace Hopes

Tehran and Washington appear to be edging closer to a second round of talks and a ceasefire extension over the US-Israel war with the Iran. Still, Donald Trump’s decision to escalate the standoff by blockading Iranian traffic through the Strait of Hormuz risks doing even more damage to Iran’s biggest oil customers.

Pakistan’s military said a delegation from the country arrived in Iran on Wednesday as Islamabad continues to mediate the exchange of messages between the two sides. Iran sees a prolonging of the US blockade as “a prelude to a breach of the ceasefire,” said Ali Abdollahi, the commander of Iran’s joint military headquarters, according to state TV. Iran’s armed forces “will not permit any exports or imports to continue in the Persian Gulf, the Sea of Oman or the Red Sea” if the blockade continues, he said.