US-Iran Deal Will Take Months, Gulf and Europe Officials Say [View all]

Source: Yahoo! Finance/Bloomberg

Thu, April 16, 2026 at 2:41 PM EDT


(Bloomberg) -- Some Gulf Arab and European leaders believe that a US-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar with the matter.

The leaders want the vital Strait of Hormuz opened immediately to restore energy flows and are warning in private that a global food crisis may develop if that doesn’t happen by next month, said the officials, who asked not to be identified discussing private talks.

Energy prices will probably rise even more should the war stretch beyond that, they said. Brent crude extended gains after the news, gaining about 4.5% on the day to more than $99 a barrel.

Gulf states believe Iran is looking to build a nuclear weapon and that hasn’t changed in the wake of the US-Israeli bombardment of the country, said the officials. They thus think a peace deal should ban Iran from enriching uranium or having long-range ballistic missiles, the officials said. Still, Gulf leaders are mostly against any return to fighting and want the US to pursue diplomacy with Iran, said the officials.

Read more: https://finance.yahoo.com/sectors/energy/articles/us-iran-deal-months-gulf-184109962.html