Bloomberg: approval of US-Iran deal will take six months, EU says. Brent above $99

It will take about six months to agree on a peace deal between the United States and Iran, some leaders of European countries and Arab states believe. Bloomberg writes about it, citing sources among officials in both regions. Both sides should extend the ceasefire, which expires on Tuesday, March 21, for that six-month period, EU and Gulf countries believe, the agency says.

European and Arab leaders are also counting on the immediate opening of the Strait of Hormuz, through which about 20 percent of the world's oil supplies passed before the war, Bloomberg sources said. The leaders warn that if shipping in the strait is not resumed by Ma, there could be a global food crisis and the cost of energy resources would rise even more, the sources added.

Persian Gulf countries believe that Iran still intends to build nuclear weapons and that this desire has not changed after bombings by Israel and the U.S., Bloomberg sources said. According to Arab leaders, the peace agreement should prohibit Iran from enriching uranium and possessing long-range ballistic missiles. At the same time, the regional heads of state are against the resumption of hostilities and want a diplomatic settlement, Bloomberg's sources said.

Representatives of the governments of Saudi Arabia, Qatar, Kuwait, Oman and Bahrain did not respond to Bloomberg's inquiries. The UAE Foreign Ministry cited an April 8 statement calling for the "unconditional opening of the Strait of Hormuz".

Brent oil futures accelerated growth after Bloomberg publication. The cost of contracts with execution in June rose above $99 per barrel: the price grew by almost 5%. U.S. WTI crude oil rose by 3.5% to $94.5 per barrel.

Shares on the U.S. stock market on this background slowed down, but mostly remained in the green zone. The broad market index S&P 500 was adding 0.13% after rising 0.4% at the high for the day - to a new record. The Dow Jones blue-chip index was up 0.17%, while the tech-heavy Nasdaq Composite was up 0.2%. The Russell 2000 index of small and mid-capitalization companies was down slightly. The CBOE Volatility Index (VIX), known as the "Wall Street Fear Index" was down 0.2% to 18.1 points. The psychological mark indicating high volatility is considered to be 20 points.

U.S. President Donald Trump on Thursday gave a positive outlook on the progress of negotiations with Iran. "The prospects of us making a deal with Iran look very good, and it will be a good deal," he told reporters at the White House (quoted by Bloomberg). Talks between the two countries' delegations could resume this weekend, Trump added.

Iran has agreed to terms it had previously rejected, including giving up building nuclear weapons and transferring nuclear materials, the US president said. The deal will also include "free oil" and the opening of the Strait of Hormuz, he added. Tehran has not publicly confirmed any concessions on its part, Bloomberg notes.

This article was AI-translated and verified by a human editor