The recent session of discussions between the U.S. and Iran resulted in no significant advancements, with both parties deciding to prolong the talks, stated Iranian Foreign Minister Seyed Abbas Araghchi, who characterized the negotiations as the “most intense to date.”

“We have achieved further progress in our diplomatic dialogue with the United States,” remarked Araghchi, while indicating that the two parties aimed to address crucial matters like the lifting of U.S. sanctions on Iran and “nuclear-related actions” in a more “detailed” fashion.

According to Oman’s Foreign Minister Badr Al Busaidi, who is mediating the discussions, the parties reached “significant progress” during the high-stakes negotiations held in Geneva, Switzerland, and have agreed to reconvene next week in Vienna to focus on technical details.

Al-Busaidi is traveling to Washington to confer with Vice President JD Vance and other U.S. officials on Friday, as reported by MS Now. Vance has previously played down the chance of the U.S. engaging in a lengthy war with Iran, despite escalating military rhetoric from both Tehran and Washington.

Earlier this week, U.S. President Donald Trump noted that Iran appears more eager to reach a “deal” than the U.S., although Tehran’s refusal to promise not to develop nuclear weapons remains a principal obstacle hindering the agreement.

In his State of the Union address this week, Trump emphasized, “They [Iran] want to agree to a deal, but we haven’t received those secret assurances: We will never possess a nuclear weapon.”

As tensions remained elevated, the U.S. amassed a sizable military presence in the Middle East, with Trump cautioning last week that “bad things” could occur if Iran does not comply with a deal regarding the future of its nuclear aspirations.

The third round of discussions this week was conducted under the leadership of U.S. special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner, while Araghchi led the Iranian team.

The Wall Street Journal reported earlier on Friday that the U.S. delegation presented stringent demands to the Iranian side, which included the destruction of the three primary nuclear facilities at Fordow, Natanz, and Isfahan, as well as the transfer of all remaining enriched uranium to the U.S. Iranian representatives have opposed these requirements.

The U.S. team also demanded that any nuclear agreement must be indefinite with no so-called sunset clauses, according to the report citing unnamed U.S. officials.

The core of the negotiations revolves around Iran’s nuclear program, with the U.S. also pressing Tehran to limit its ballistic missile development. Tehran, however, maintains its right to enrich uranium domestically, citing its necessity for energy generation.

Immediately prior to the latest discussions in Switzerland, U.S. Secretary of State Marco Rubio stated that Iran’s unwillingness to engage in talks about its intercontinental ballistic missile development was a major roadblock.

The Trump administration has also insisted that Tehran halt support for regional armed factions and stop repressing peaceful protests at home.

Analysts have warned of potential military confrontation in the area if the two sides fail to achieve a substantial breakthrough, which could lead to upheaval in the broader Middle East and impact oil markets.

“If there isn’t a diplomatic breakthrough in the upcoming days, the U.S. risks engaging in a military conflict with serious escalation potential,” cautioned Michael Hanna, director at the International Crisis Group, a Brussels-based think tank.

Hanna further highlighted that Washington’s priorities remain uncertain as it presses a broad array of demands on Tehran: “It’s not clear whether the administration itself has a concrete vision for its desired outcome.”

Among Tehran’s priorities in the discussions is the removal of sanctions that have crippled its economy and triggered a currency crisis, igniting widespread protests against the Islamic Republic in December.

The results of this week’s indirect talks will be crucial for the direction of oil prices as traders assess potential supply disruptions if tensions escalate.

WTI futures decreased by 35 cents, or 0.24%, on Friday to $64.97 per barrel. Brent crude futures fell by 38 cents, or 0.30%, reaching $70.54 per barrel.

“The market might wait for a full reaction until the extent of potential U.S. actions against Iran becomes clearer,” explained Warren Patterson, head of commodities strategy at ING Bank, predicting that any “targeted and brief” strikes that spare energy infrastructure — reminiscent of last year’s June strikes — with limited pushback from Iran could result in a short-lived spike in oil prices.

However, if Washington opts for long-term measures coupled with more aggressive retaliation from Tehran, oil prices are likely to remain elevated due to supply concerns.

Traders will also keep an eye on the OPEC+ output decision for April this weekend.

“Should we expect de-escalation between the U.S. and Iran, it should allow weaker fundamentals to translate into a lower flat price — particularly if OPEC+ proceeds with supply increases starting in April, which we anticipate they will agree to this weekend,” Patterson stated.

Netflix is abandoning negotiations to acquire Warner Bros. Discovery’s studio and streaming properties after the WBD board determined on Thursday that a revised bid from Paramount Skydance was a more advantageous proposition.

Earlier this week, Paramount increased its offer for the complete acquisition of WBD to $31 per share, up from $30 per share, in cash only. This was another revision of Paramount’s numerous proposals in recent months — and after advancing with a hostile attempt to acquire the firm — and it has now displaced the arrangement between WBD and Netflix for selling the legacy media corporation’s studio and streaming assets for $27.75 per share.

Last week, Netflix provided WBD with a seven-day waiver to reinitiate discussions with Paramount, which led to the increased offer. Paramount’s proposition encompasses the entirety of WBD, including its paid TV channels, such as CNN, TBS, and TNT.

Netflix was allotted four business days to amend its own bid based on Paramount’s superior offer, as stated by the WBD board on Thursday.

Instead, the streaming giant’s decision to withdraw concludes a prolonged narrative that featured revised propositions from both parties.

“Netflix is an outstanding company and during this ordeal Ted, Greg, Spence, and all the team there have been remarkable collaborators to us. We wish them the best in the future,” WBD CEO David Zaslav expressed in a statement, referring to Netflix co-CEOs Ted Sarandos and Greg Peters, along with CFO Spencer Neumann. “Once our Board casts its vote to approve the Paramount merger agreement, it will generate significant value for our shareholders. We are enthusiastic about the prospects of a united Paramount Skydance and Warner Bros. Discovery and are eager to commence our collaboration in narrative creation that captivates the globe.”

Netflix’s stock surged 10% in after-hours trading on Thursday, while Paramount’s shares rose by 5%. Shares of Warner Bros. Discovery dipped by 2%.

“The arrangement we deliberated would have delivered shareholder value with a clear pathway to regulatory confirmation,” Sarandos and Peters stated in a declaration. “Nonetheless, we have always adhered to our principles, and at the price needed to meet Paramount Skydance’s latest proposal, the agreement is no longer financially appealing, hence we are opting not to match the Paramount Skydance offer.”

The latest Paramount proposition included a $7 billion breakup fee should the suggested merger fail to secure regulatory approval. The firm also consented to cover the $2.8 billion breakup fee that WBD would owe Netflix if that arrangement did not materialize.

Sarandos informed CNBC’s Julia Boorstin in an interview last week that Netflix provided WBD the waiver to resume discussions with Paramount to offer shareholders transparency.

“Paramount had been creating a lot of noise, inundating the situation with confusion for shareholders… including presenting all these hypothetical proposals and communicating directly with the shareholders while bypassing the Warner Bros. Discovery board,” Sarandos remarked at that time. “Thus, we granted the chance to deliver those shareholders precisely what they merit, which is comprehensive clarity and certainty.”

However, Sarandos had refrained from commenting on whether Netflix would raise its own offer to match the revised Paramount proposal.

And on Thursday, Sarandos participated in meetings at the White House to discuss the potential collaboration.

“Warner Bros. is a premier organization, and we thank David Zaslav, Gunnar Wiedenfels, Bruce Campbell, Brad Singer, and the WBD Board for conducting a fair and rigorous process,” the Netflix co-CEOs articulated in their statement.

“We believe we would have been strong guardians of Warner Bros.’ iconic brands, and that our agreement would have bolstered the entertainment industry while preserving and creating more production jobs in the U.S.,” they expressed. “But this transaction was always a ‘nice to have’ at the appropriate price, not a ‘must have’ at any cost.”