A senior Iranian source reported that mediators have proposed a 10-day cessation of strikes to find ways to revive the US-Iran deal. Risk sentiment improved further on the headline and oil prices extended the losses.
Earlier in the session, 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 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.
This article was written by Giuseppe Dellamotta at investinglive.com.
