U.S. President Donald Trump stated that a peace agreement with Iran is reportedly nearly finalized.
According to Trump, if the negotiations are successfully concluded, global energy routes such as the Strait of Hormuz could be reopened, allowing global oil shipments to gradually resume.
He said the final details of the agreement are still being discussed by both sides.
Some of the key points currently being negotiated include the possibility of partially lifting U.S. sanctions on Iranian oil exports.
Additionally, reopening access to Iranian ports is also part of the discussions in these negotiations.
U.S. media also reported plans for a temporary ceasefire during the ongoing negotiations regarding Iran’s nuclear program.
However, the Iranian side denied some of the claims made by Trump, particularly regarding the management of the Strait of Hormuz.
Iranian state media assessed that some of the statements made by the U.S. President do not fully align with conditions on the ground.
The potential for a peace agreement is seen as capable of generating positive sentiment for global markets, particularly the energy sector.
Over the past few months, the global oil market has faced pressure due to conflicts and geopolitical tensions in the Middle East.
However, some analysts estimate that the process of normalizing global energy distribution will still take a considerable amount of time even if an agreement is reached.