US and Iran Say a Peace Deal Is Very Close
Iran and President Trump both said Friday that a peace deal is very close. Pakistan's prime minister said the final text of a deal had been agreed to.
Oil prices fell sharply after Pakistan made that claim. US oil prices dropped to $84 a barrel.
Brent crude briefly fell to its lowest level since the Iran conflict began. But Trump said news reports about the deal do not match what was agreed to in writing. Mediators in Pakistan are working to finalize the next steps.
Klear Note — The US and Iran have had tense relations for decades. Oil prices drop when peace seems likely because markets fear less conflict disruption.
Key Terms 2
- Brent crude A widely used measure of global oil prices
- mediators People who help two sides reach an agreement