After a humiliating week, it looks like the Israeli PM is backing down to US pressure. Netanyahu has agreed to take various steps to get the Palestinians back to the negotiating room, none of which are particularly substantive (a settlement building freeze isn't exactly a concession given the issue is the settlements themselves rather than the continued building), but it's a start.
It seems like the Obama administration has had enough of Netanyahu and his coalition of Zionist militants bullying them and has finally woken up to the fact that the Israeli government only understands the language of power. The public humiliation seems to have worked a treat, and Netanyahu has been forced to swallow his pride and concede to pretty much everything Hillary Clinton has asked of him.
It is worth repeating that the US is asking very, very little of Netanyahu other than he at least makes it look like he wants peace with the Palestinians. Netanyahu really doesn't, but understands that the United States image throughout the Arab world is so awful it cannot afford for an autonomous and highly provocative Israel to overtly assert its power in the region. So for now, the peace process will resume.
That is until Netanyahu and his cohorts decide to derail it again.