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Analyst Torbjorn Soltvedt says a fragile ceasefire masks ongoing low‑intensity conflict between the US and Iran that has recently escalated into heavier exchanges. Negotiations continue, but both sides seek to bargain from strength: Washington prefers stepped‑up pressure to increase leverage, while Tehran believes threats to close the Strait of Hormuz can choke the global economy and extract better terms. Soltvedt says the tactic has already produced economic effects across multiple countries. He warns US inf is at a three‑year high and, without a formal agreement, the "extremely unstable environment could collapse at any time."

Iran's foreign ministry spokesman said Iran has not yet made a final decision on the agreement.