Nuclear talks collapse in Islamabad no restoration path visible

Last-minute indirect nuclear negotiations between U.S. and Iranian delegations in Islamabad fail to produce agreement. Iranian negotiators reject further compliance concessions, while U.S. diplomats maintain maximum pressure as non-negotiable. No follow-up talks scheduled. Markets recognize General License U will expire without renewal, signaling permanent return to zero-tolerance oil sanctions. Oil futures spike 3-5% on supply disruption fears.