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“The Wall Street Journal reported on Friday that Iran’s proposed peace deal exchanged a suspension of the U.S. blockade on Iranian ports in the Strait of Hormuz for Iran agreeing to reopen the rest of the strait and resume talks over its nuclear program.”

“Iranian Foreign Minister Abbas Araghchi put the onus on the United States to agree to a deal to reopen the Strait of Hormuz in comments to reporters Friday, claiming that Iran is ready to make peace with the U.S.”

“Trump’s insistence on including certain details regarding Iran’s nuclear weapons program has emerged as a pressure point in negotiations, as have various ways to fully reopen the Strait of Hormuz and thus bring down global oil prices.”

“THE LATEST ON OIL: Oil prices fell today on reports that Iran has offered to reopen the Strait of Hormuz within the next week.”