Iran and US presented with draft proposal that includes 45-day ceasefire, Strait of Hormuz opening, two officials tell AP
Context
The proposed 45-day ceasefire between Iran and the US, along with the reopening of the Strait of Hormuz, could lead to a significant de-escalation in regional tensions. If implemented, this would likely stabilize oil prices, with WTI potentially experiencing a pullback from recent highs as fears of supply disruptions ease. Traders should watch for market reactions in energy assets and risk sentiment as the situation develops.
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