U.S. and Iran pause fighting to give peace talks 'space.' Here's where negotiations stand - CNBC

What the report says

CNBC reported that a temporary halt in fighting between the United States and Iran was still largely in place Monday, after the U.S. military stopped two weeks of strikes on Friday to allow diplomatic efforts more room. Tehran rejected media accounts that it had accepted a 10-day ceasefire, and Iran’s Foreign Ministry spokesperson Esmail Baghaei said there were no current negotiations with Washington.

President Donald Trump said the U.S. had ample ammunition, pushing back on concerns that weapons stockpiles were influencing military choices. CNBC cited reports that such concerns had factored into deliberations after Trump had considered a much larger attack on Iran. Israeli Prime Minister Benjamin Netanyahu said he was meeting Trump to discuss the war, with Iran expected to be the central topic.

The diplomatic picture remains complicated. CNBC reported that Iran has said its official ongoing talks are with Oman over the Strait of Hormuz, while Oman has emerged as a key intermediary. Baghaei described recent talks with Oman as useful, but also said the strait remained closed. CNBC noted that the waterway is economically critical because a large share of global oil supply moved through it before the conflict.

Markets initially reacted positively to the pause, with oil prices falling sharply and stocks rising before gains eased. However, CNBC said risks remain high because related military activity continued elsewhere, including Saudi strikes on Houthi targets in Yemen and a reported Ukrainian strike on an Iranian commercial vessel in the Caspian Sea. Analysts cited by CNBC warned that energy and shipping disruptions remain the main market concern.