Al Arabiya reports:
- Agreement would immediately open Hormuz
- A Qatari-Pakistani proposal has revised the path of serious negotiations between Washington and Tehran
- Arrangements are underway to discuss the return of IAEA inspectors to Iran
- Washington has agreed to allow uranium enrichment inside Iran at a level of 3.67%, and Tehran has agreed
- Discussions are underway regarding the involvement of a third country to facilitate the reduction of highly enriched uranium levels in Iran (likely Russia IMO)
- A preliminary agreement on reducing Iranian uranium enrichment is likely
The S&P 500 is up 2.7% to 7573, a session high. Oil is also under pressure on the headlines.
This article was written by Adam Button at investinglive.com.