US-Iran Diplomacy & Markets: JD Vance said talks in Switzerland created a “good foundation” for a final deal, with mechanisms to keep the Strait of Hormuz open and working groups planned; Iran’s Pezeshkian stressed full implementation of the MoU clauses, while Iran’s foreign ministry rejected IAEA inspections for bomb-damaged nuclear sites. Oil & Trade: The US granted a 60-day sanctions waiver letting Iran sell oil and related products, helping ease crude prices and supporting shipping recovery through Hormuz—though tensions with Lebanon still cloud “durable” normalization. Gulf Politics: Marco Rubio is set to pitch the Iran reset to wary GCC allies in the UAE, Kuwait and Bahrain, where concerns include missile limits, a proposed $300bn reconstruction fund, and control over oil shipping lanes. Lebanon Front: Israel’s Smotrich said Israel won’t withdraw from southern Lebanon while Hezbollah remains, underscoring how regional spoilers can derail the diplomacy. Egypt Energy: Dana Gas reported full settlement of overdue receivables from Egypt and plans further drilling after receiving AED 79m. Banking Confidence: Standard Bank said Middle East conflict uncertainty has dented client confidence, but expects recovery in 2H26 if positive developments continue. Türkiye Enforcement: Turkey seized six fuel-sector companies and appointed trustees to 10 others in a tax-fraud probe. Pakistan Angle: Analysts weigh whether Pakistan’s mediation goodwill can translate into economic gains amid structural constraints.