Iran reviews US response to proposal aimed at ending hostilities

Iran is reviewing the United States’ (US) response to its proposal aimed at ending hostilities, a senior Iranian official told Reuters on Wednesday, signaling that diplomatic efforts between Tehran and Washington remain underway.

According to the official, reopening the Strait of Hormuz and lifting the US blockade were among the issues discussed during indirect talks between Iran and the US on Tuesday.

The Iranian official also said that Tehran’s key priorities are permanently ending hostilities and securing the lifting of the US naval blockade.

Key takeaways

Tehran is reviewing US response to its proposal to end hostilities.

During indirect talks with US on Tuesday reopening hormuz strait and lifting US blockade were discussed.

Iran's key priorities are permanently ending hostilities and lifting US naval blockade.

Still many differences remain between Iran, US positions, but diplomacy continues.

Market reaction

Market reaction remains relatively contained, with the US Dollar Index (DXY) trimming some gains but still up 0.47% on Wednesday, slightly above 101.00, while West Texas Intermediate (WTI) US Oil also pulls back but remains 1.47% higher at around $90.80 per barrel.