The White House believes it is getting closer to an agreement with Iran on a one-page memorandum of understanding to end the war. Axios reports this, citing informed sources.
A framework for more detailed nuclear negotiations would also be established. The United States expects Iranian responses on several key points in the next 48 hours.
Leading the negotiations on the one-page, 14-point memorandum are Steve Witkoff and Jared Kushner on the American side and several Iranian officials, both directly and through mediators.
The text would declare an end to the war in the region and the start of a 30-day period of negotiations on a detailed deal to open the Strait of Hormuz, limit Iran’s nuclear program, lift U.S. sanctions and gradually release frozen Iranian funds. The negotiations could take place in Islamabad or Geneva.
Iran’s restrictions on cross-strait shipping and the U.S. naval blockade would be gradually lifted over the 30 days. But if negotiations fail, US forces could reinstate the blockade or resume military action, a US source said.
Oil and gas in sharp decline, WTI drops to 95 dollars
Oil and gas are in sharp decline while rumors about an agreement between the US and Iran and the possibility of reopening the Strait of Hormuz are being evaluated. On the crude oil front, the WTI fell by 6.7% to 95.40 dollars a barrel. Brent lost 6.3% to 102.98 dollars. In Amsterdam the price of gas slipped by 7% to 43.39 euros per megawatt hour.
Stock market: Europe runs and bets on the agreement between the USA and IRA
European stock markets appear euphoric and are betting on the hypothesis of an agreement between the USA and Iran which could also include the unblocking of the Strait of Hormuz. A scenario that fuels the decline in oil and gas prices and at the same time also a sharp decline in government bond yields.
The Stoxx 600 index gained 2.1%. Paris (+2.4%), Frankfurt and Madrid (+2.2%), London (+2.1%) are running. The main stock markets of the Old Continent are driven by the car (+4%) and luxury (+4.8%) sectors. Banks (+3.8%) and insurance companies (+2.6%) also performed well.