US-Iran Peace Deal Rumors Send Stocks Up $500 Billion as Oil Price Crashes

Lockridge Okoth

(08:07 PM UTC)

1 min read

Reports of a near-final US-Iran draft brokered by Pakistan added roughly $500 billion to US equities on May 21. WTI crude oil slid to $96.23, while Bitcoin (BTC) edged higher on ceasefire optimism.

Al Arabiya reported that the leaked draft includes an immediate ceasefire and freedom of navigation through the Strait of Hormuz. Sanctions on Iran would lift gradually under a joint monitoring…

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