U.S, Iran discuss 45-day ceasefire as mediators push for deal ahead of deadline

The United States (US), Iran and regional mediators are discussing terms for a possible 45-day ceasefire that could lead to an end of fighting, Bloomberg reported on Monday, citing Axios. The people, who were not named, said chances of reaching a deal over the next 48 hours are low.

Earlier, US President Donald Trump extended his deadline by 20 hours, posting a new deadline of Tuesday at 8:00pm EST.

Market reaction

At the time of press, the WTI price is down 0.95% on the day at $102.85.

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