It was Iran which proposed the 10-day ceasefire, i24's Stein reports, citing sources; US said to be demanding a longer ceasefire and demanding even partial navigation of the Strait of Hormuz
Newsquawk Staff ·
- The goal of these 10 days, according to the two sources, is to find a solution for the Strait of Hormuz.
- The mediators conveyed the proposal to the US and even added additional components to it during the talks they held with Washington and Tehran - such as the idea of creating a "middle route to Hormuz" - so that it would be between the territory controlled by Oman and the territory controlled by Iran and through which ships could pass.
- Some members of the Trump administration call the Iranian proposal "absurd, illogical."
What it means
This development indicates a potential shift in negotiations around the Strait of Hormuz, a critical chokepoint for global oil supply. Iran's proposal for a 10-day ceasefire highlights their willingness to engage in dialogue, while the U.S. demanding a longer ceasefire could signal a tougher stance on security issues in the region. Overall, this situation may impact oil prices and market sentiment, particularly in the WTI and broader commodities markets, as tensions in the Strait could affect trade flows.
Sources
- Week in Focus 26-30th October 2026: FOMC, BoC, RBNZ, ECB, BoJ Policy Decisions, US PCE
- US President Trump, on Iran, says we may do another operation against Iran; doubts Iran will say ‘let’s get down to business’
- US Ambassador to Turkey Tom Barrack says US could strike Iran as soon as this weekend, AFP reports citing an interview on Israeli radio
- US President Trump says "we could end the Iran war very quickly", adds "do we want to finish it or let it within is the question"
- While Washington continues to exert economic pressure on Tehran, an American media report reports that it is considering a scenario of several days of attacks on Iran; a scenario that includes missile, drone, energy and nuclear facilities, ILNA reports
Related headlines
- US Midterm Preview: Democrats Favoured to Flip the House, Senate Too Close to Call25 min ago
- US President Trump says we’re close to ending, I hope, the Russia-Ukraine war1 hour ago
- White House says President Trump has further modified Canadian products subject to tariffs under Section 338; tariff changes will take effect on 30th October 20261 hour ago
- Iran’s IRGC says two tankers struck naval mines while trying to use an unauthorised route south of the Strait of Hormuz, Tasnim reports1 hour ago
- Foreign Ministers of Egypt, Saudi Arabia, Turkey and Pakistan say ‘Israeli occupation is the main source of instability in the region and beyond’, according to a statement2 hours ago
- CRUDE WRAP: WTI (Z6) SETTLES USD 3.80 HIGHER AT USD 103.27/BBL; BRENT (Z6) SETTLES USD 3.55 HIGHER AT USD 116.72/BBL2 hours ago
- Citi says it remains neutral on copper until more energy-market and tariff clarity emerges; views any associated risk-off episodes as good long-term buying opportunities2 hours ago
- Iran and Russia to hold talks in Moscow next week, Mehr reports2 hours ago
- Iran has developed plans to target undersea communications cables in the Gulf if the US and Israel launch further attacks, according to two officials speaking to Reuters4 hours ago
- Russia's Kremlin says Russian and Ukrainian militaries are working to determine dates for ceasefire talks5 hours ago
- US President Trump is set to speak with UK PM Burnham this afternoon on the Russia-Ukraine situation, BBG reports6 hours ago
- Turkish FM says nobody approves another attack on iran, diplomacy is the only way, following a meeting with European counterparts6 hours ago
- Senior Ukrainian Official says that a ceasefire in Russian-occupied Oleshky is to be established soon6 hours ago
- Newsquawk Weekly Economic Release 26th - 30th October 2026 6 hours ago
- Newsquawk European Market Wrap - 23rd October 20266 hours ago