Iran President PEZESHKIAN said the Supreme Leader has given the government partial authority to negotiate with the U.S. Markets reacted: global oil prices fell and gold and silver rose, traders viewing the move as a potential signal of a more flexible Iranian stance that could improve prospects for an agreement.
Brent crude oil futures fell 6.5% intraday to $106.06/bbl. WTI fell below to $97.3/bbl, down 6.55% on the day.
PEZESHKIAN cautioned strategic decisions remain under the Supreme Leader’s control, so any progress would require his and the negotiating team’s joint approval. Tehran has previously proposed a conditional, two-day framework to reopen the Strait of Hormuz if its demands are met, notably lifting the blockade, releasing frozen funds and easing sanctions.
U.S. equity index futures extended gains; S&P 500 futures up 0.58%, Nasdaq-100 futures up 1.01%, Dow futures up 0.69%.
