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Oil prices fell on Monday as investors pared geopolitical risk premiums after U.S. President Donald Trump said he had called off a planned strike on Iran.
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The latest peace proposal calls for warring parties to return to negotiations and continue working out some of the thorny issues that derailed diplomatic efforts.
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Tehran has not responded to the suggestion that new talks are imminent. Trump has previously said a negotiated end to the war is close, only for strikes to resume.
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Trump says he'll order American forces to hold off on strikes he had threatened against Iran, claiming Mideast allies have reached the parameters of a deal to end the war.
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President Donald Trump says he'll hold off on strikes he had threatened on against Iran, claiming allies reached the outline of a deal to end the war.
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The markets' moves were the first since President Trump said late Saturday that he had halted a U.S. assault on Iran.
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The U.S. issued new security alerts for Americans in the Middle East as tensions rose over Iran threats and Israeli strikes after Hamas agreed to disarm.
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