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Market Chatter: US, Iran Explore Phased Deal to Reopen Hormuz, Lift Blockade

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US and Iranian negotiators in New York are exploring a phased deal to end their nearly seven-month conflict, Reuters reported Thursday, citing Iranian, regional and Western sources.

Under the proposed framework, Iran would reopen the Strait of Hormuz in exchange for Washington lifting its economic blockade, the report said.

Gulf leaders, meeting separately with Trump, pressed for clarity on Washington's post-midterm strategy and reiterated rejection of Iranian control over Hormuz, the report said.

The White House did not immediately respond to a request for comment from.

(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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