Vance says the US and Iran are “very close” to extending a ceasefire deal, but the final green light still sits with Trump and Khamenei.
The draft reportedly includes reopening Strait of Hormuz shipping lanes, mine clearance within 30 days, and Iran stepping back from nuclear weapons ambitions.
Big geopolitical move if this lands. Oil, shipping, and broader risk markets are all watching the next 48 hours closely.