US stocks gained roughly $550 billion Monday as hopes rose for a 10-day US-Iran ceasefire.
Oil fell as traders priced in calmer supply risks
Mediators want the pause to revive June’s interim peace deal. A senior Iranian official confirmed the offer to Reuters on Monday. Why US-Iran Ceasefire Hopes Lifted Stocks and Cooled Oil The offer went to Tehran on Monday, Reuters reported.
It aims to revive the Islamabad Memorandum, the peace deal Pakistan and Qatar brokered in June. Donald Trump and Iranian President Masoud Pezeshkian signed it remotely on June 17. The truce collapsed in July when strikes resumed.