[Flash] Rubio Says Solid Iran Deal May Come Monday, Oil Extends Losses
US Secretary of State Rubio said a ‘solid’ peace deal with Iran could be reached as early as Monday, BBC reported. This follows President Trump’s earlier instruction to negotiators ’not to rush’ into an agreement, which had cooled market optimism.
Oil prices extended their slide, falling approximately five percent. Asian equities rose broadly as investors bet on a meaningful reduction in Middle East geopolitical risk premium. Hardline Republicans, however, continue to question the terms of the proposed deal.
Analysts note that if the agreement is signed, passage through the Strait of Hormuz would gradually normalize, easing tensions in global energy supply chains.
Source: BBC World, Reuters