U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

U.S. and Iranian negotiators have reportedly reached a draft 60-day memorandum of understanding to extend the ceasefire and launch negotiations over Iran’s nuclear program, though President Donald Trump has not yet approved the deal. According to Axios and Reuters, the proposed framework would include unrestricted shipping through the Strait of Hormuz, discussions around Iran’s uranium stockpile, and potential sanctions relief negotiations.

• U.S. officials said Iran agreed to remove all mines from the Strait of Hormuz within 30 days under the draft framework.
• The proposed agreement would also lift the U.S. naval blockade in phases tied to the restoration of commercial shipping traffic.
• Iran would commit not to pursue a nuclear weapon while negotiations continue over uranium enrichment and highly enriched uranium disposal.
• Reuters reported Iran launched attacks targeting a U.S. base in Kuwait after U.S. strikes near the Strait of Hormuz, highlighting continued tensions despite ongoing talks.
• Oil prices rose more than 2% Thursday as investors monitored ceasefire negotiations and shipping security in the Gulf region.
• Treasury Secretary Scott Bessent separately announced new sanctions targeting Iranian banking networks, petroleum shipments, and shipping vessels.

Relevant Companies

• Exxon Mobil ($XOM) – Gulf shipping stability and oil prices directly affect major energy producers.
• Chevron ($CVX) – Crude oil market volatility remains tied to developments around the Strait of Hormuz.
• Teekay Tankers ($TNK) – Maritime shipping companies are exposed to disruptions and security risks in Gulf trade routes.

Editor’s Note: This is a developing story. This article may be updated as more details become available.