Update30 Mar 2026 17:19
on monday, us president donald trump wrote on his truth social network that the us is in "serious discussions" with "a more reasonable regime" in tehran, the iranian capital.
in addition, us secretary of state marco rubio voiced hope for working with elements within iran's government, saying the us privately had received positive messages.
rubio said there were internal "fractures" inside the islamic republic and that the us hoped that figures with "power to deliver" take charge.
"we are hopeful that that's the case," rubio told abc news program "good morning america."
meanwhile, ****stan on sunday said it was ready to broker and host "meaningful talks" between washington and tehran to end the war.
but iran's parliament speaker mohammad bagher ghalibaf said the us was "secretly planning a ground attack".
trump warned if a deal is not reached shortly then the us will blow up and obliterate all iran's electric generating plants, oil wells and kharg island.
in another concerning development, yemen's houthi movement confirmed it had fired ballistic missiles at israeli military sites in support of iran and allied hezbollah forces.
jpmorgan analyst natasha kaneva said while the houthi involvement is "not yet decisive, it introduces a second maritime pressure point in the red sea, alongside the strait of hormuz."
"in effect, two major corridors of global energy trade are exposed simultaneously, narrowing rerouting options and increasing system-wide supply-chain risk," she noted.
kaneva said in practical terms, that places roughly 5 million barrels of oil per day of saudi arabia bypass capacity at risk, a vulnerability that could add usd20 per barrel to oil prices.
brent oil traded higher at usd112.46 a barrel on monday afternoon, from usd111.63 late friday.
reflecting the increased oil price, shares in oil majors bp and shell rose 3.1% and 2.0% respectively. on the ftse 250, oil and gas exploration firms ithaca energy and harbour energy firmed 2.6% and 2.7% respectively.
in london, bosses from energy, shipping and banking firms met with primer minister keir starmer to discuss iran's ongoing blockade of the strait of hormuz.
the summit at no 10 is expected to be followed by a cobra meeting on tuesday, where senior ministers will discuss the ongoing economic hit caused by the war.
"we are bringing together the shipping sector, insurance and energy, because obviously that's a focus of concern," starmer commented.