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The Guardian - UK
The Guardian - UK
Business
Joanna Partridge

Stocks rise and oil dips on hopes of 15-point Iran peace plan

Oil Iran Larry Fink United States Asia the Middle East
Currency traders watch monitors near a screen showing the Kospi and the foreign exchange rate between the US dollar and the South Korean won in Seoul, South Korea.
Traders in Seoul look at monitors. There has been volatility in the global markets since the outbreak of conflict in the Middle East. Photograph: Ahn Young-joon/AP

The price of oil has dipped and stock markets around the world have moved higher on reports that the US has sent a 15-point framework for peace to Iran, amid hopes of a ceasefire in the Middle East.

Positive sentiment may also have been bolstered by reports that Iran had announced it was permitting “non-hostile” ships to pass safely through the strait of Hormuz, a move that could help to reopen the vital shipping lane.

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