• Iranian officials say growing pressure will not force Tehran to change its position.
• Iran says it has used the ceasefire period to rebuild military capabilities.
• Saudi Arabia supports extending negotiations and calls for urgent diplomatic efforts to avoid escalation.

Tensions between Iran and the United States (US) remain in focus after statements from Iranian and Saudi officials reported by Reuters highlighted both the risk of renewed confrontation and ongoing efforts to maintain diplomatic channels.

Iran's parliament speaker said signs from the "enemy" point to efforts to trigger a new round of conflict, adding that Iranian forces used the ceasefire period to rebuild their strength. He also said mounting economic pressure would not force Tehran to surrender and described relations with the United States as a "war of wills."

Meanwhile, Saudi Arabia welcomed the decision to give US-Iran negotiations more time and urged Tehran to respond quickly to mediation efforts. Riyadh also said extending talks could help restore security in the Strait of Hormuz and support broader regional stability.

Key takeaways

Iran's parliament speaker says obvious and hidden moves of the 'enemy' show they are seeking a new round of war.

Iran's parliament speaker says our military forces have used the ceasefire opportunity in the best way to rebuild their strength.

Iran's parliament speaker says mounting economic pressure and blockade will not compel Iran to surrender.

Iran's parliament speaker says Iran and the US are in a 'war of wills'.

Saudi Arabia appreciates US president response in granting negotiations with Iran an additional opportunity to reach an agreement.

Saudi Arabia says it hopes Iran responds urgently to mediation efforts to avoid escalation.

Saudi Arabia welcomes US efforts to restore security in Strait of Hormuz.

Saudi Arabia says extending US-Iran negotiations could help restore Hormuz shipping security.

Saudi Arabia says it supports efforts aimed at reaching lasting peace in region, world.

Market reaction

The US Dollar Index (USD) remains under pressure on Wednesday, losing 0.17% on the day, trading around 99.15 at the time of writing. West Texas Intermediate (WTI) Oil loses 3.89% at around $99.35 at the time of press.