WTI crude oil fell more than 2% intraday, now $75.70/bbl.

Iranian sources said on the 22nd that negotiations between Iran and the United States in Switzerland began on the 21st at about 15:00 local time and ran roughly 1.5 hours before being recessed for 30 minutes for internal consultations. Iran's delegation refused to resume after Trump made threatening remarks. Qatar and Pakistan continue mediating and intermediaries are still relaying messages; mediation is ongoing but no final agreement has been reached. Iran lodged a formal protest over U.S. breaches of commitments, citing a specific violation of Article 1 of the memorandum of understanding (MoU).

U.S. President Trump said Iran must immediately stop its proxies in Lebanon from provoking incidents, warning that if it does not the United States will strike Iran again, like last week, and more forcefully.