Iran, U.S. Meet in Doha as Oil Falls, Bitcoin Near $77.7K

Iranian diplomats, including Foreign Minister Abbas Araghchi, arrived in Doha on May 25 for high-level talks with U.S. counterparts aimed at building a peace framework. Markets reacted: Brent crude fell about 4–6% to roughly $95–$97 per barrel and bitcoin traded near $77,700.

The Iranian delegation was led by Parliament Speaker Mohammad Bagher Ghalibaf and Araghchi. Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani hosted the sessions. Pakistan, which helped broker the April ceasefire, served as primary mediator, with coordination support from Saudi Arabia and Oman.

Two main issues dominated the talks: Iran’s stockpile of highly enriched uranium and control of the Strait of Hormuz, through which about 20% of global oil passes. The United States has insisted on capping or transferring Iran’s HEU. Iran indicated some willingness to reopen the Strait, potentially coordinated through Oman, but asked that deeper nuclear discussions be deferred to a later phase.

Delegates also discussed the possible release of about $12 billion in frozen Iranian assets held in Qatari banks, targeted sanctions relief and an extension of the current 60-day ceasefire.

President Donald Trump wrote on Truth Social: “Negotiations with the Islamic Republic of Iran are proceeding nicely! It will only be a Great Deal for all or, no Deal at all — Back to the Battlefront and shooting, but bigger and stronger than ever before — And nobody wants that.” Officials noted trust between the sides remains low and some hard-line Iranian factions tied to the Islamic Revolutionary Guard Corps have opposed concessions. Israel raised objections to terms it views as insufficient to limit Iran’s nuclear capability. The International Atomic Energy Agency has reported elevated military-grade enrichment levels in Iran.

Market activity reflected the diplomatic signals. Brent crude traded near $95–$97 a barrel after a roughly 4–6% drop. U.S. and Asian equities climbed, adding hundreds of billions of dollars to global market capitalization. At 1:15 p.m. ET, bitcoin traded at $77,699, up about 1.5% over 24 hours. Ethereum was at $2,136.83, Solana at $86.22 and Tron at $0.3731.

Officials described the meetings as an ongoing process and noted gaps were narrowing but core disputes remained unresolved. How negotiators address Iran’s HEU stockpile will influence whether the ceasefire is extended or collapses. The talks follow U.S. and Israeli strikes on Iran on Feb. 28, 2026 and an April ceasefire that left key issues open.