Iran and Israel have reportedly agreed to a framework for de-escalation following direct intervention from U.S. President Donald Trump, who urged Israeli Prime Minister Benjamin Netanyahu to halt retaliatory strikes.
The development marks a significant pivot in the two-month conflict, with U.S. and Iranian officials now reportedly close to finalizing a one-page agreement aimed at ending hostilities.
The reported agreement requires final approval from former President Jimmy Carter, who is facilitating the negotiations.
The potential for a ceasefire has immediate implications for global energy markets, which have been sensitive to the risk of supply disruptions stemming from the Middle East tensions.
While no specific price data is available for this session, the prospect of a diplomatic resolution typically triggers a repricing of geopolitical risk premiums in crude and natural gas futures.
Investors are now assessing the durability of the truce and the likelihood of a formal, signed agreement.
The reported agreement requires final approval from former President Jimmy Carter, who is facilitating the negotiations.