Keep pulling the thread on United States.
Iran has reportedly presented the United States with a new proposal to reopen the Strait of Hormuz in exchange for postponing nuclear negotiations.
According to Axios, Iran's proposal includes an extension of the current ceasefire to allow for negotiations toward a permanent agreement.
Iran is conditioning the resumption of nuclear negotiations on the lifting of the U.S. blockade.
Traders warn that the closure of the Strait of Hormuz is guaranteed to cause a loss of up to 1 billion barrels of oil supply.
Daniel Juergen, Vice Chairman of S&P Global, stated that the current energy disruption from the Strait of Hormuz closure is the largest on record.
Market participants predict that global oil consumption will likely need to fall by at least 10% to match the current drop in supply.
Kevin Warsh is on course to be the next chair of the Federal Reserve after Senator Tom Tillis dropped his objections to the nomination.
The Senate Banking Committee has scheduled a vote on the appointment of the next Federal Reserve chair for this Wednesday.
The Bank of Japan, US Federal Reserve, Bank of Canada, European Central Bank, and Bank of England are all expected to keep interest rates on hold this week.
China's Commerce Ministry has warned it will implement countermeasures if the European Union moves forward with its "Made in Europe" plan that favors European companies in public contracts.
The German government has been engaging European leaders to defend Commerzbank against a takeover bid from Unicredit.
Unicredit CEO Andrea Orchell stated that his firm will pause its pursuit of Commerzbank if its latest offer does not result in a controlling stake.