Oil Slides as Iran Sends Updated Peace Proposal Via Pakistan Mediators
Oil prices fell on Friday after Iran delivered an updated peace proposal to mediators in Pakistan, reviving hopes that a settlement with the United States remains possible despite the ongoing conflict.
U.S. crude futures dropped 3% to settle at $101.94 a barrel, while global benchmark Brent declined nearly 2% to $108.17. The move reflected a partial unwind of geopolitical risk premium as traders reassessed near-term supply disruption risks.
Pakistani officials told MS NOW that mediators had received Iran’s revised proposal to end the war and that it had been passed on to U.S. officials. The update helped shift market focus toward the probability of de-escalation, a key variable for energy pricing.
Still, signals from Washington were mixed. President Donald Trump said later on Friday that he was not satisfied with Iran’s offer, telling reporters at the White House: “Iran wants to make a deal, but I’m not satisfied with it.”
Trump is also facing a 60-day deadline under the War Powers Resolution related to military action in the Iran conflict. Under the 1973 law, a president must withdraw troops within 60 days of notifying Congress of their deployment unless lawmakers authorize the action—something Congress has not done so far. Markets will keep watching the negotiation track, official statements from both sides, and any indications that supply risks are fading or returning.
Source : Newsmaker.id
