US-Iran ceasefire talks collapse in Islamabad, raising global economic risks
Ceasefire negotiations between the U.S. and Iran in Pakistan ended without agreement, casting doubt on stability of the truce set to expire April 22.
Why it matters
Uncertainty around the 2-week truce risks renewed conflict and volatility in energy markets tied to the Strait of Hormuz.
The big picture
This week, watch oil prices and diplomatic signals - today's breakdown sets their direction.