Ceasefire announced by President Trump on April 7 expires later this week, with deadline at 8 p.m. ET Wednesday/midnight GMT Thursday.
Trump says renewal is "highly unlikely," while Pakistan mediates and Vice President JD Vance is expected to lead the U.S. delegation despite mixed White House messages.
Iran closed then reopened the Strait of Hormuz, causing oil price spikes and inflation worries, but a U.S. seizure of an Iranian cargo ship prompted a renewed closure.
Wall Street's rally cooled as crude prices reversed some losses, remaining above pre‑war levels, reflecting heightened market uncertainty.