Citation :
Markets rallied after a report that the US and Iran had extended a ceasefire and were close to an agreement to end their war. The ceasefire extension is for 60 days and that a memorandum of understanding would state that shipping through the vital Strait of Hormuz would be “unrestricted,” with Iran having 30 days to remove all mines from the waterway. Axios cited two US officials and a regional source involved in talks. Wall Street traders sent stocks toward all-time highs and bonds rose on the report, while Brent crude pared its advance to around $94 a barrel.
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