Iran reportedly receives ‘some sign’ that the US is ready to break its naval blockade

The headline is via Bloomberg, in citing Tasnim News Agency which is affiliated with the IRGC.

If true, then it is good news as it creates an incentive for Iran to come to the negotiating table. For now, the ceasefire looks to be extended as per US president Trump’s announcement. However, further talks look to be delayed until further notice.

US vice president Vance was supposed to travel to Pakistan later today but some media reports are claiming that his travel plan is put on halt as Iran is not wanting to come for talks. Again, the headline is no guarantee that the situation will change but it is something to be watch just in case.

Markets are still continuing to hold out hope though, with risk trades gaining a bit more on the news here. S&P 500 futures are now up 0.6% on the day while precious metals are also pushing higher. Gold is up 1.2% to $4,769 and silver up 2.5% to $78.63 at the moment.

Meanwhile, oil prices are slipping with WTI crude dropping by 2% on the day now to $87.87.

This article was written by Justin Low at investinglive.com.