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Mediators propose 10-day strike pause to revive US-Iran deal

The proposal prompted an improvement in risk sentiment and pushed oil prices further down after earlier gains tied to expectations of a wider conflict.

Reported · Written up by our desk · Major Pairs

Forexlive reports that mediators have proposed a 10-day cessation of strikes as part of efforts to revive the US-Iran deal, with Iran and the United States returning to positions held before July 9.

The same report says the diplomatic update improved risk sentiment, while oil prices extended losses after reversing earlier moves triggered by reporting that the United States was preparing for a wider war and increasing military aircraft in the Middle East.

Forexlive also notes that an Iranian Foreign Ministry spokesperson said Tehran would consider diplomacy based on national interests and that mediators have remained active despite the ongoing conflict, suggesting channels have not fully closed.

The report adds that although Reuters later said the Houthis declared a maritime embargo against Saudi Arabia, the proposed strike pause still drove oil price action that erased earlier losses tied to the ceasefire hopes.

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