Crude oil prices declined and stocks rallied on Tuesday after Iran's official news agency said the Islamic Republic is ready to end hostilities, subject to certain conditions. With markets appearing to absorb the initial impact of an energy shock, the main U.S. equity indexes all rose at least 2.5%. And the biggest theme for stocks before the war remains a major upside catalyst.
President Masoud Pezeshkian told EU Council President Antonio Costa that Iran has "the necessary will to end this war" but requires "essential guarantees to prevent the recurrence of aggression," according to the Islamic Republic News Agency.
