Iran is evaluating a new proposal from the US to end their almost 10-week war, according to a person familiar with the matter, as China added its voice to global pressure to wrap up the conflict.Oil prices plunged more than 10 per cent on the news to below $100 a barrel for the first time since late April, before paring declines. Global stocks and bonds rallied in anticipation of a potential deal.Washington’s one-page memorandum of understanding will, if Iran accepts it, lead to the gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, according to the person, who asked not to be identified discussing sensitive information. Do you think that the peace deal will “hold” for long?
