US-Iran peace diplomacy lowers oil and lifts equities
Trump asked Iraq's PM to relay proposals to Tehran, while a Qatari official says reports on the proposal details are false but talks continue. Oil is down 3-4% and futures are up.
What we know
Trump asked Iraq's PM to convey proposals to Tehran. A Qatari official said reports on specific details are false while negotiations continue. The IRGC Navy continues attacks near Hormuz. Brent is down ~4% and WTI is below $90. Ukraine's team is heading to Abu Dhabi talks.
How the story developed
Trump asked Iraq's PM to relay proposals to Tehran, while a Qatari official says reports on the proposal details are false but talks continue. Oil is down 3-4% and futures are up.
Reports of a Houthi strike damaging the Aramco tower in Riyadh, alongside European protests and criticism over Israel and Gaza.
Israel's president asked Eisenkot rather than Netanyahu to form a government, blasts were reported in southern Iran, and Gaza flooding drew wide attention.
Trump named Stephen Miller White House chief of staff after Wiles resigned, the first inner-circle shake-up since the midterms.
The White House is reassessing after the Republican defeat, Rubio defends the Iran war despite fuel price costs, and Iran sent a nuclear proposal via Qatar.
Democrats won historic House and Senate gains. Analysts attribute it to the Iran war, corruption and cost of living, and Trump has conceded the war was a factor.
Al-Araby Al-Jadeed reports Washington approved a Qatari-drafted MOU with nuclear concessions for frozen funds. Brent fell to ~$101.80 and WTI to ~$94.73, while gold rebounded toward $3,970.
Qatari mediators visited Tehran and Iran and the US are weighing new proposals. Oil is volatile, with FT noting prices near $106 after declines on diplomacy hopes while US crude futures rose to $98.60.
Brent dropped 4% on hopes for a US-Iran resolution, while the UAE and China comment on the conflict and some commentators claim a US nuclear strike is imminent (unverified).
Saudi Arabia and the GCC condemned an attack on a Qatar Gas Company tanker and called it a dangerous escalation. Trump says Iran matters remain unsettled, and Iran reports tankers hitting mines.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.