Mediators have proposed a 10-day cessation of strikes to find ways to revive the US-Iran deal
A senior Iranian source reported that mediators have proposed a 10-day cessation of strikes to find ways to revive the US-Iran deal. Mediators proposed that Iran and US return to pre-July 9th positions. Risk sentiment improved further on the headline and oil prices extended the losses.
Earlier in the session, the Iranian Foreign Ministry spokesperson said that Tehran would consider diplomacy based on its national interests, while confirming that mediators have remained active in recent days despite the ongoing conflict. His remarks suggested that diplomatic channels have remained open despite the collapse of the ceasefire.
Those remarks helped turned the risk sentiment around and oil prices started to ease after the jump triggered by the Washington Post report saying that the US was preparing for a wider war and that the Pentagon was increasing the number of military aircraft in the Middle East.
The confirmation of a ceasefire from both sides would likely boost the risk sentiment further as traders will start to look forward towards a de-escalation and eventually another fragile MoU-type deal.
For now, the hopes for a ceasefire might limit the damage and keep the markets more in rangebound mode, but it takes just one negative headline for markets to go back into risk-off.
UPDATE:
Speaking about that one negative headline, just a few minutes ago Reuters reported that Houthis declared a maritime embargo against the 'criminal' Saudi Arabia. Oil prices erased all the losses from the proposed ceasefire news.
This article was written by Giuseppe Dellamotta at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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