Iran said on Monday (November 2) that "intensive" exchanges were under way with Washington and offered to reopen the Strait of Hormuz under strict conditions, as efforts escalated to avert a return to war, AFP reported.
Mixed signals
The diplomatic push comes alongside harsh rhetoric. Malay Mail reported on Tuesday (November 3) that Iran unveiled a billboard in Tehran threatening to kill Trump, while an art exhibition against the US president was also on display in the capital. The excerpts reviewed do not give details of the conditions Iran has set, nor the US response.
Market reaction
Asian stock markets struggled on Tuesday after another AI-fuelled tech selloff on Wall Street, which overshadowed a possible breakthrough in the talks to end the Middle East war, according to an AFP report. A separate headline said oil rebounded on a report of an Iran strike, a reminder of how quickly energy prices respond to news from the region.
Why it matters
The Strait of Hormuz is a key shipping route for oil, so any reopening or closure influences fuel costs worldwide, including in Malaysia. Investors and governments will be watching whether the exchanges lead to a formal agreement or whether tensions flare again.
Sources: Malay Mail - Iran unveils billboard threatening to kill Trump | Malay Mail (AFP) - Asian stocks slide as AI spending fears deepen
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