Diplomats eye narrow window for Iran nuclear talks

The understanding that quietened the Gulf has done the easy part. The harder negotiation — over uranium enrichment, inspections and the sequencing of sanctions relief — is only now beginning.

Trust deficit

Years of collapsed agreements have left both sides wary. Diplomats say the next 60 days will test whether a durable settlement is possible or whether this is merely another pause.

For oil markets, the stakes are immediate: any breakdown could send tankers back to anchor and prices back above $100.