The guns have actually been silent in the Middle East overnight, after two days of deadly strikes between the United States and Iran, amid a general return to premarket open headlines of 'peace imminent again' as mediators desperately work to get diplomacy back on track. The White House position is that the ceasefire is over but that Washington has agreed to reengage Tehran in mediated talks.Trump indicates US has agreed to Iran talks, but United States has stated to them, in no uncertain terms, that cease fire is over.The New York Times writes early Friday that "Qatar, which helped broker the U.S.-Iran truce last month, has been in talks with Washington and Tehran to de-escalate the crisis, according to two officials with knowledge of the matter, who requested anonymity to discuss sensitive diplomacy. In recent days, several other regional countries — Bahrain, Kuwait and Jordan, all of which host U.S. military facilities — said they have come under Iranian attack."via Shutterstock/National InterestThe same report further says, "Even as the fighting appeared to subside on Friday, it remained unclear whether the latest mediation efforts could prevent that cycle from repeating." The situation has devolved into a "dangerous test of wills, with each side trying to show that it can absorb the other’s attacks and respond forcefully, without tipping the conflict back into full-scale war," NYT continues.And separately Bloomberg also reports, "Talks between the US and Iran on a permanent peace deal are continuing, according to a US official, despite two days of clashes that threatened an already fragile ceasefire. The renewed hostilities risk undermining efforts to rebuild depleted global oil inventories, the International Energy Agency said."Bloomberg continues: "Oil prices steadied on Friday after a bumpy week. While gasoline prices have fallen since the fragile ceasefire, they’ve lagged crude’s sharp decline, prompting one asset manager to buy protection against stickier-than-expected US inflation."There appears real movement on this, given also that Reuters is freshly reporting that Qatar negotiators are currently in Iran to meet Iranian officials, as part of the effort to immediately de-escalate tensions and create conditions for broader negotiations.Still, the crisis is on edge and full-scale war could return at any moment, also as the UK Maritime Trade Operations agency is once again alerting global vessels security threat in the Strait of Hormuz remains at its highest level.In Iran, the burial of the slain Supreme Leader Ayatollah Ali Khamenei has finally concluded, and the IRGC's top commander, Brigadier-General Ahmad Vahidi, has pledged vengeance against the US and Israel for the assassination, saying it won’t "be erased from the historical memory."The Revolutionary Guard chief called for the "full realization of justice and a fitting response to the criminals, especially the child-killing American army." An estimated 41-43 million people attended the six-day funeral for the late Khamenei, according to Iranian media.NEW: Iran warns it will retaliate against infrastructure attacks and strike Israel in response. pic.twitter.com/JmkyZ7Zeyy