A proposed 10-day halt in strikes aims to restart negotiations, easing geopolitical tensions and pressuring oil prices lower.
Mediators have proposed a 10-day cessation of strikes to explore reviving the US-Iran nuclear deal, according to officials. The move follows recent diplomatic efforts despite ongoing regional conflict, signaling potential progress in negotiations.
Earlier, Iran’s Foreign Ministry confirmed active mediation efforts, though it emphasized decisions would align with national interests. Risk sentiment improved on the news, reversing earlier losses driven by reports of US military buildups in the Middle East.
Oil prices extended declines after the proposal, reflecting reduced fears of immediate supply disruptions. Markets had previously reacted to warnings of escalating tensions, which had pushed crude higher.