A Pakistani source has confirmed that the US and Iran are closing in on a one-page memorandum to end their conflict, Reuters reports

The confirmation of a potential one-page memorandum between the US and Iran to resolve their conflicts is a significant development that could lead to a de-escalation of tensions in the region.

Newsquawk StaffPublished 6 May 2026, 09:52 UTCOn the live feed at 09:32 UTC, 20 minutes before this page

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10:02

Iran’s Foreign Ministry says it is "evaluating" the US' 14-point peace proposal, CNBC reports

09:56

India's Reliance is to shut a crude unit and other components at the 660k BPD Jamnagar refinery for maintenance.

09:32

A Pakistani source has confirmed that the US and Iran are closing in on a one-page memorandum to end their conflict, Reuters reports

09:31

Germany sells EUR 2.662bln vs exp. EUR 3.5bln 2.50% 2032 Bund Auction: b/c 2.4x (prev. 1.1x), avg. yield 2.8% (prev. 2.78%), retention 23.94%

09:25

Israel Energy Minister Cohen says they need to wait and see if a deal to end the Middle East conflict occurs, Iran must agree to all conditions

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Context

This may positively impact oil prices and supply dynamics, particularly concerning WTI, as market participants price in the possibility of increased stability and potential future cooperation. Traders should closely monitor commodity reactions, especially given the broader implications for energy markets and geopolitical risk.

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