Despite the attempts of some regional outlets to spin a narrative of imminent peace (which we saw yesterday), a senior Iranian source told Reuters on Thursday that "no deal had been reached with the US" - though he did also claim that "gaps had narrowed" - somewhat in line with the optimistic narrative.The Islamic Republic is reportedly still reviewing the latest peace blueprint handed down by the Trump administration. However, this is the latest from a Wall Street Journal correspondent:Source tells me the draft “deals” circulating are inaccurate.
— laurence norman (@laurnorman) May 22, 2026Trump has meanwhile explicitly warned that further military action remains firmly on the table if Tehran doesn't bend the knee. Yet there's more 'action' taking place in the interim - as Pakistan's army chief once again is on his way to Tehran, per Al Arabiya, and this - though already previewed the day prior - caused oil to dump amid the usual daily optimistic headlines emerging just ahead of the US market open. And in an apparent first, Qatar is sending a delegation too:Futs hits session high on Reuters report Qatar has sent negotiating team to Tehran with the US team to help secure a deal to end war.Field Marshal Asim Munir is expected to receive and relay Tehran's answer to Washington on the latest.Meanwhile, speaking to state television, Fadahossein Maleki, an influential member of Iran’s Parliament’s National Security and Foreign Policy Committee, strongly hinted that Iran might not wait around to be hit. When pressed on whether the ceasefire could collapse, Maleki bluntly stated, "Anything is possible."He took it a step further, openly floating the idea of an Iranian preemptive strike if Iran believed the Pentagon is moving its forces into position for resumption of military action.“It could even come from Iran’s side, frankly," Maleki warned, according to a report by Iran International. "If we feel that something is happening from a US base, Iran has the legitimacy to respond and prevent it."Despite these threats, US Secretary of State Marco Rubio has freshly said there has been some "slight progress" in talks with Iran to end the war, but followed by saying he did not wish to exaggerate how much.Which helped push crude oil prices to the lows of the day...More possibly premature reports of a 'final draft' being worked on...🔴 BREAKING: The final draft of a possible agreement between the United States and Iran, mediated by Pakistan, is expected to be announced within hours, according to Al Arabiya sources. Its key terms include the following:
