A Pakistani source involved in peace efforts told Reuters that the US and Iran are nearing a brief, one-page agreement aimed at ending the conflict.
The source said, “We will close this very soon. We are getting close,” confirming an earlier Axios report.
More details are expected as the situation develops.
Meanwhile, US President Donald Trump has paused the military’s “Project Freedom” operation intended to secure the Strait of Hormuz, citing progress toward a broader agreement with Iran. He said the pause would last “for a short period” to assess whether a “complete and final agreement with the representatives of Iran” can be reached.
Iranian President Masoud Pezeshkian responded that the US is applying “a policy of maximum pressure” and “expects Iran to submit to their unilateral demands”, calling that approach “impossible” for Tehran.
Global oil prices fell further after Trump’s comments suggesting a potential peace deal. Brent crude dropped more than 6% to around $103 a barrel, while US crude slipped nearly 7% to about $95. Both benchmarks had already declined about 4% in the previous session.
Traders are closely watching developments around the Strait of Hormuz following the pause in the “Project Freedom” operation aimed at supporting shipping through the waterway.
Source: Al Jazeera