Iran reportedly proposes Hormuz Strait deal to U.S. Here’s where things stand — and what’s next for markets
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- Iran offered a deal to reopen the Hormuz Strait and end the war while deferring nuclear negotiations, according to Axios sources.
- Trump scrapped the planned envoy mission of Steve Witkoff and Jared Kushner to Islamabad, citing tremendous infighting and confusion in Tehran.
- Brent oil futures rose about 1% to $106.55 per barrel on Monday, while U.S. crude climbed to $95.23 per barrel.
- Goldman Sachs lifted its 2026 Brent price forecast to $90 a barrel from $80, citing prolonged Gulf supply disruptions.
- Invesco sees $80 per barrel as a floor for Brent this year if Hormuz flows remain partially blocked.
Why it matters: Energy importers such as Europe face higher costs as Brent stays above $106, squeezing profit margins for airlines and manufacturers while boosting revenues for oil producers.
