President Donald Trump said a peace deal with Iran is very possible as Tehran reviews a U.S. proposal to end the war [1].
This diplomatic push aims to restore commercial shipping through the Strait of Hormuz, a critical global transit point for energy, and stabilize a volatile Middle East conflict [1, 2].
Iranian officials said the country is reviewing the latest American proposals on ending the war [3]. The proposed agreement consists of a 14-point memorandum [4]. Trump's team said they are very close to a peace deal with Iran [5], and Trump said the progress is very close [2].
Maritime activity in the region has shown signs of movement. Reports indicate that 11 ships have exited the Strait of Hormuz [6]. Additionally, a 10-day cease-fire has been established between Israel and Lebanon [2].
Global energy markets have reacted to the shifting diplomatic landscape. Brent crude prices have fluctuated, with reports placing the price around $103 per barrel [6], while other sources indicate it remains below $100 per barrel [7]. U.S. crude prices are currently around $95 per barrel [6].
Both nations are under pressure to reach an agreement that ensures the safety of international waters. The reopening of the Strait of Hormuz remains a central pillar of the negotiations to prevent further economic disruption to global oil supplies [1, 2].
“"Very close"”
The potential for a 14-point agreement suggests a shift toward a structured diplomatic framework rather than a simple ceasefire. By linking the end of the war to the reopening of the Strait of Hormuz, the U.S. is prioritizing the restoration of global energy security. The volatility in Brent crude pricing reflects market uncertainty as traders weigh the possibility of a breakthrough against the risks of continued regional conflict.
