Pezeshkian: If the US Returns to Commitments, Iran Will Respond Immediately
Iranian President Masoud Pezeshkian, speaking at the Shanghai Cooperation Organisation (SCO) Summit in Bishkek, said, "If the US returns to its commitments in the memorandum of understanding, the Islamic Republic of Iran will also respond immediately." The memorandum of understanding referenced by Pezeshkian was signed between himself and President Trump on June 17 and envisaged a ceasefire, the clearing of mines from the Strait of Hormuz to open it to vessel traffic, and a 60-day direct talks process. However, the agreement collapsed shortly after, and the parties resumed exchanging fire in recent weeks.
Oil Maintains Its High Course Despite Diplomatic Initiative
Despite the diplomatic opening, oil prices continued their rise compared to the day: Brent crude traded above $91 with a 0.6% increase, while WTI crude oil traded above $86.5 with a 0.9% increase. Consecutive tanker attacks during the week in the Strait of Hormuz and crossfire between Iran and the US led investors to treat Pezeshkian's call with caution; a response from the US side is awaited for a lasting ceasefire to materialize.
Ekonomik Takvim | 31 August - 5 September 2026
🇺🇸 Friday, September 4
US Non-Farm Payrolls (NFP)
The last major labor market data before the Fed's September interest rate decision; a surprise result could reprice interest rate hike expectations.
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