Unconfirmed Qatar-Pakistan Iran peace proposal lifts stocks, weighs on oil

Investing.com -- An unconfirmed report that Qatar and Pakistan had proposed a new compromise to revive negotiations between the US and Iran helped support stocks and weigh on oil prices, as investors assessed the prospects for a diplomatic breakthrough.

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The S&P 500 rose 0.6%, while oil prices declined as hopes for progress toward ending the conflict eased concerns about potential energy supply disruptions.

Al-Araby Al-Jadeed reported, citing unnamed sources, that Qatar and Pakistan had put forward a proposal intended to address demands from both Washington and Tehran and bring the two sides closer to an agreement. The reported terms include releasing $6 billion in interest on Iranian funds frozen in Qatari banks and allowing confidential, unannounced visits by the International Atomic Energy Agency to Iranian nuclear sites.

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The proposal remains unconfirmed. Bloomberg reported that a diplomat involved in US-Iran negotiations disputed reports suggesting a deal was close, while not denying that talks were continuing. The comments temper expectations of an imminent breakthrough even as diplomatic efforts remain underway.

Qatar and Pakistan have played roles in mediation efforts surrounding the conflict, but there has been no confirmed agreement to resume negotiations under the reported terms.

The market reaction reflects hopes that ongoing diplomacy could reduce the risk of further escalation, rather than confirmation that a deal has been reached.

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