The US president has extended a deadline for Iran to open the Strait of Hormuz and paused energy strikes for 10 days, with Trump stating talks are 'going very well' as US Vice President J.D. Vance takes a forefront role in US efforts to broker Iran peace; analysis suggests Trump's 'mysterious peace negotiations' do not promise a quick end to the war, and experts explain his strategy of playing for time with new ultimatums and troop deployments.

The Middle East conflict continues to drive global economic concerns, with Europe bracing for a supply crunch and price shock, Euro zone consumers turning gloomier, and developing Asia and Pacific facing potential inflation hikes. European shares and global stocks and bonds have slid as the crisis pushes oil prices above $105, exacerbating a war-fuelled energy crisis felt across various sectors and regions.

G7 foreign ministers are meeting near Paris to discuss Iran war strategy, with US Secretary of State Marco Rubio seeking to convince allies. Meanwhile, NATO Secretary General Mark Rutte has angered European leaders by unconditionally supporting Donald Trump's war with Iran.

G7 nations are struggling to find a common approach to end the Iran war, with discussions at the G7 meeting focusing on achieving a unified stance, while Trump has extended his ultimatum for an attack on Iranian energy facilities and Tehran dismisses the US's 15-point plan.