According to a Times of Israel report, the ‘gift’ Iran gave the US recently was allowing an uncertain number of fuel tankers safe passage through the Strait of Hormuz.
What this might signal is Iran’s willingness to engage with the peace plan reportedly proposed by the US. This is potentially overshadowing reports that the US has deployed additional troops to the region.
Thus, oil prices are under mild pressure while stocks are responding positively.
We are still waiting for Iran to properly respond or comment on the progress of the talks. Once the situation becomes clearer, volatility in these assets might pick up and strengthen the current market momentum.
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