The Dow Jones (DJIA) is set to open Friday in the green amid growing optimism for a peace framework agreement between the U.S. and Iran.
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Pakistan Chief of Defence Forces Asim Munir, who has been instrumental as a mediator between the two countries, is scheduled to travel to Tehran today, a Pakistani security source told Axios. Furthermore, Reuters reported that Qatar has sent a negotiating team to the capital as well.
Deal Hopes Rise but Key Issues Persist
A report from the semi-official ILNA News Agency circulated on Thursday that the two sides would announce a deal within “hours,” although no announcement has been made. Key sticking points remain between the U.S. and Iran, including the future of Iran’s nuclear program and control over the Strait of Hormuz.
Meanwhile, Brent crude oil (BZ) remains above $100 per barrel with traffic through Hormuz still severely restricted. Experts have warned that prices could stay high months after the waterway reopens due to a permanent loss of supply and damage to infrastructure in the Middle East.