Iran's Araghchi says talks are under way on a 2-day plan to reopen Hormuz. Hormuz is the oil chokepoint, so a credible reopening path drains crude risk premium and is a relief signal for risk assets.

What happened: Iran's Foreign Minister Abbas Araghchi told Al Jazeera that talks are under way with Qatari mediators on a plan to reopen the Strait of Hormuz within two days if the US meets Tehran's conditions. Why it matters: Iran's security chief Mohsen Rezaei said he reviewed a letter from US Vice President JD Vance and described Washington's changed tone as a very positive sign. Araghchi called the US dialogue offer a positive step as an Iranian delegation visited Doha.

Iran's Foreign Minister Abbas Araghchi told Al Jazeera that talks are under way with Qatari mediators on a plan to reopen the Strait of Hormuz within two days if the US meets Tehran's conditions.

Iran's security chief Mohsen Rezaei said he reviewed a letter from US Vice President JD Vance and described Washington's changed tone as a very positive sign. Araghchi called the US dialogue offer a positive step as an Iranian delegation visited Doha.