- According to a CNN report citing an Iranian source, there has been outreach between the U.S. and Iran in recent days, with the Middle Eastern country said to be willing to consider “sustainable” suggestions to bring an end to the war.
- This comes after a senior Iranian security official on Monday denied President Trump’s claims of talks between the two countries.
- The official reportedly stated that President Trump has retreated in the face of Iran’s military threats regarding attacks on critical infrastructure in the region.
U.S. equities were mixed in Tuesday morning’s trade amid reports of thousands of U.S. marines arriving in the Middle East on the same day as President Donald Trump’s deadline for Iran is set to end. The Dow Jones Industrial Average tumbled more than 400 points before recovering to hover 100 points in the green, while the S&P 500 index fell 0.8% before recovering to hover 0.1% in the green.
According to a report by The Wall Street Journal citing two sources familiar with the matter, nearly 2,200 U.S. marines are slated to arrive in the Middle East this Friday. The report adds that it would take a few more days for the unit to get to the Strait of Hormuz, which has currently been shut down by Iran in response to the intensifying attacks from the U.S. and Israel.
This comes after President Trump announced on Monday that the attacks on Iran’s energy infrastructure had been postponed by five days following discussions with the Middle Eastern country.
Crude Oil Prices On The Boil Again
Crude oil prices soared on Tuesday after cooling off on Monday.
U.S. West Texas Intermediate (WTI) crude futures maturing in May soared nearly 5%, rising to more than $92 per barrel. Brent crude futures maturing in June gained 4%, reclaiming the $100 per barrel level.
The United States Oil Fund ETF (USO) gained more than 4%, while the ProShares Ultra Bloomberg Crude Oil ETF (UCO) was up about 7% at the time of writing.
Outreach Between US, Iran Underway, Says Report
According to a CNN report citing an Iranian source, there has been outreach between the U.S. and Iran in recent days, with the Middle Eastern country said to be willing to consider “sustainable” suggestions to bring an end to the war.
“The proposals being looked at are aimed not merely at achieving a ceasefire, but a concrete agreement to end the conflict between the US and Iran,” the source said, according to the report.
This comes after a senior Iranian security official on Monday denied President Trump’s claims of talks between the two countries.
The official reportedly stated that President Trump has retreated in the face of Iran’s military threats regarding attacks on critical infrastructure in the region. The official stated that no negotiations are ongoing or have been undertaken, while noting that the Strait of Hormuz will not return to pre-war conditions.
Meanwhile, President Trump announced on Monday that he has instructed the Department of War to postpone all military strikes against Iran’s power plants and energy infrastructure for five days.
At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, edged up by 0.06%; the Invesco QQQ Trust ETF (QQQ) fell 0.25%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.24%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘extremely bearish’ territory.
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