Rubio Says US-Iran Deal ‘Pretty Solid’ as Markets Rally on Peace Hopes

New Delhi: Marco Rubio said on Monday that US and Iranian negotiators now have “a pretty solid thing on the table” as both sides move closer to a possible agreement aimed at ending the ongoing conflict.

Rubio made the remarks during his visit to India after Donald Trump indicated that negotiators should “not rush into a deal,” despite earlier optimism about a breakthrough.

Deal Could Include Strait of Hormuz Reopening

According to reports, the proposed agreement could include a 60-day extension of the ceasefire, the reopening of the Strait of Hormuz and further negotiations over Iran’s nuclear programme.

Rubio said progress had been made regarding the reopening of the key shipping route.

“We’re still a work in progress,” Rubio told reporters in New Delhi. “We thought we might have some news last night. Maybe today.”

He added that the negotiations focused on ensuring Iran reopens the Strait of Hormuz, a vital waterway through which nearly 20 percent of the world’s oil and liquefied natural gas passes.

Oil Prices Fall, Asian Markets Rise

Meanwhile, global markets reacted positively to hopes of a diplomatic breakthrough.

Oil prices dropped sharply on Monday while Asian stock markets recorded gains after reports suggested a deal could be close.

The Strait of Hormuz crisis had previously pushed global oil prices higher after Iran restricted shipping activity in the region.

Communication Challenges Slow Negotiations

According to reports, US intelligence believes Iran’s supreme leader remains in a secure undisclosed location following injuries sustained during an Israeli strike earlier in the conflict.

The reports suggested communication difficulties with Iranian envoys slowed the pace of negotiations.

Iranian Foreign Ministry spokesperson Esmail Baghaei said both countries were “very close and very far” from reaching a final agreement.

Proposed Deal Faces Criticism in Washington

The reported framework has also divided members of Trump’s Republican Party.

US Senator Ted Cruz described the proposed arrangement as “a disastrous mistake,” while Senator Lindsey Graham questioned whether the deal would strengthen Iran’s regional influence.

However, Trump defended the negotiations on social media.

“If I make a deal with Iran, it will be a good and proper one,” he wrote on Truth Social.

Iran Repeats Nuclear Assurances

Iranian President Masoud Pezeshkian meanwhile repeated that Tehran’s nuclear programme remained peaceful.

“We are ready to assure the world that we are not after a nuclear weapon,” he told state television.

Reports also suggested the agreement may eventually require Iran to surrender part of its highly enriched uranium stockpile.