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Market Chatter: Iran Set to Reopen Strait of Hormuz After 30 Days of Peace Deal

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The US and Iran are advancing toward a framework to end hostilities, with negotiations centering on a phased reopening of the Strait of Hormuz within 30 days of a peace agreement, Nikkei reported on Monday, citing diplomatic sources.

The peace deal would include a 60-day extension of the existing ceasefire. Within this period, Iran would undertake a 30-day operation to clear mines from the Strait and restore commercial vessel traffic to pre-conflict levels.

The proposal also outlines a cessation of Iranian transit fees and a commitment to address Tehran's nuclear program through formal talks during the two-month truce.

The current ceasefire, agreed in early April, would be extended, and the pause would provide a window for broader negotiations on Iran's nuclear program, as the two sides seek to stabilize one of the world's key energy chokepoints.

Iran's Ministry of Foreign Affairs did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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