By Rebecca Feng
Oil futures retreated on cautious hopes that the conflict in the Middle East may be getting closer to a resolution.
Mediators are pushing for a U.S.-Iran meeting by Thursday, though the two sides remain far apart.
The U.S. sent Iran a 15-point-plan to end the war, which centers around previous demands of Tehran including dismantling main nuclear sites and fully opening the Strait of Hormuz. Iran has high demands as well, including the closure of all American bases in the Gulf and reparations for attacks. Meanwhile, Gulf states are lobbying President Trump to stick with the war.
Though a great deal of uncertainty remains around any cease-fire deal and potential resolution to the energy crunch, markets have taken signs of progress positively. Stock futures edged up, and Treasury yields slipped.
Futures for Brent, the international crude benchmark, dipped below $100 a barrel. European natural gas futures dropped around 8%.
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(END) Dow Jones Newswires
March 25, 2026 06:28 ET (10:28 GMT)
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