Iran says no tangible progress has been made in nuclear talks with the U.S. as an Israel-Lebanon ceasefire faces early challenges and oil markets react.

Negotiators will suspend “talks and the exchange of documents through mediators” the semi-official Tasnim new agency reported, citing a statement.

Iran has paused negotiations with the U.S., citing Israel's intensified military actions in Lebanon, further complicating efforts to resolve the ongoing three-month war.