Trump Predicts Swift End to Iran War Amid Peace Talks
President Trump expressed optimism for a deal as Tehran considers a one-page memorandum to formally end the conflict. While global oil prices fell on the news, the proposal currently leaves unresolved key issues regarding nuclear curbs and the reopening of the Strait of Hormuz.
United States President Donald Trump predicted a swift end to the war with Iran as Tehran reviews a new peace proposal. The proposal seeks to formally end the conflict started on February 28 while delaying nuclear and maritime disputes. An agreement would restore energy flows through the Strait of Hormuz, which handled one-fifth of global oil and gas supply.
Crude oil futures fell 11% to $98 a barrel on Wednesday before recovering above $100. Global equity markets rose and bond yields declined as investors priced in a potential cessation of military hostilities. GCI Asset Management senior portfolio manager Takamasa Ikeda said markets expect no further military action.
