U.S. and Iran Reach Tentative Deal to Extend Cease-Fire

U.S. and Iranian negotiators have reached a tentative agreement to extend an existing cease-fire and open separate talks on nuclear matters. Oil prices fell and stock markets fluctuated as investors weighed the reported progress.

The agreement would prolong the current cease-fire between the two sides. The same framework would also open a new channel for nuclear discussions.

Oil prices declined following the initial reports of the tentative pact. Equity markets showed mixed movements as traders assessed the implications for regional stability. " The New York Times reported the price and market movements in its coverage of the negotiations.