Pakistan has delivered a revised peace proposal from Iran to the US, with sources warning both sides have limited time to resolve differences. Key sticking points include Iran's nuclear program and blockade of the Strait of Hormuz, while Iran seeks compensation for war damage and an end to Israeli strikes.
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Iran has submitted a 14-point peace plan to Washington through Pakistani mediators, demanding a permanent end to the conflict within 30 days. The proposal includes guarantees against future attacks by Israel and the US, lifting of sanctions, withdrawal of American forces from surrounding areas, and a new mechanism to govern the Strait of Hormuz. US President Donald Trump has cast doubt on the proposal, stating he cannot imagine it will be acceptable.
Oil prices fell Friday after Iran sent an updated peace proposal to mediators in Pakistan, raising hopes for a settlement with the U.S. U.S. crude futures dropped nearly 5% to $100.03 while Brent lost 3% to $107.14. Meanwhile, the Trump administration argues a ceasefire has terminated hostilities, avoiding a 60-day War Powers Resolution deadline that would require Congressional approval for military action.
European stock markets are expected to open higher Tuesday as investors await President Trump's response to Iranian peace proposals regarding the Strait of Hormuz and prepare for earnings from Novartis, Airbus, BP, and Barclays. Central bank meetings from the Fed, ECB, and BOE later this week dominate the agenda, with markets anticipating rates to hold steady but remain open to future hikes.
