The silence at the negotiating table in Doha is deafening. Iran and the Qatari mediators ended the talks without any agreement, and Washington seems to be running out of cards to play.

Iran's proposal has seven stages. They want the U.S. naval blockade to end and the Strait of Hormuz to reopen before discussing the rest. Washington, on the other hand, will not yield on nuclear and security issues.

Trump called the talks productive and ruled out the possibility of attacks before the midterm elections. But what about after the elections? The outlook is uncertain.

Oil prices fell amid optimism that diplomacy will prevail. The real danger is that energy routes and shipping have already been affected, leaving global supply vulnerable.

The truth is simple: neither side wants to give up its influence. The gap between what Tehran will accept and what Washington demands is the chasm standing in the way of peace. This is precisely the most dangerous moment. The talks have stopped, but the conflict has not.

Can Washington broker a deal, or are we heading toward an escalation?

Notice: This publication is for informational and educational purposes only and does not constitute financial or investment advice.

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