You cannot bomb your way to regime change, Panetta says

Oil prices recorded their largest weekly decline since the start of the war, with US crude falling 13.4% and Brent dropping 12.7%, according to market data cited by NBC News.

US crude oil prices fell from around $111 per barrel at the start of the week to $96.57 by Friday, marking the steepest weekly decline since the conflict began.

Despite the weekly drop, oil prices remain significantly higher compared with the start of the year, with US crude still up more than 60% since January.

Iran's nationwide internet blackout has reached 1000 hours of near-total disconnection, according to internet monitor NetBlocks.

The government-imposed shutdown, which began on February 28 amid US-Israeli strikes, restricted most Iranians to the state-controlled National Information Network, with connectivity at about 1% of normal levels. It is now the longest such blackout recorded anywhere.

Iran-linked vessels have accounted for the majority of recent transits through the Strait of Hormuz following a US-Iran ceasefire, the Financial Times reported on Friday.

At least nine of around 14 vessels that have passed through the strategic waterway since the pause in fighting were linked to Iran, including ships calling at Iranian ports, flying the Iranian flag or associated with Tehran’s maritime network, the FT said.

The report added that overall traffic through the Strait of Hormuz remains well below pre-conflict levels, with industry estimates suggesting commercial flows have yet to fully normalize.

The United Nations Secretary-General welcomed planned US-Iran talks and called on both sides to engage in “good faith” toward a lasting agreement, UN spokesperson Stéphane Dujarric said on Friday.

Speaking at a press briefing, Dujarric said the Secretary-General encourages the parties to seize the diplomatic opportunity to pursue de-escalation and prevent a return to hostilities.

"I can tell you that the Secretary General welcomes the US-Iran talks that are being mediated by Pakistan and scheduled to start in Islamabad over the weekend. He calls on the parties to seize this diplomatic opportunity to engage in good faith towards a lasting and comprehensive agreement with a view to de-escalation and the prevention of a return to hostilities, "Dujarric said.

US intelligence assessments said Iran still retains thousands of ballistic missiles and is able to recover launchers stored in underground facilities despite recent US and Israeli strikes, according to The Wall Street Journal.

The report said Iran’s missile force has been significantly degraded but remains operational, with more than 1,000 medium-range ballistic missiles still in its arsenal from an estimated pre-conflict stockpile of around 2,500.

US officials said more than half of Iran’s launchers have been destroyed, damaged, or buried in underground sites, though many are believed to be repairable or retrievable from fortified mountain complexes.