US Proposes 15-Point Ceasefire to Iran as Markets Rally; BlackRock Warns of $150 Oil Recession

Key TakeawaysThe U.S. has delivered a 15-point ceasefire proposal to Iran via Pakistani officials, including provisions for sanctions relief, a nuclear rollback, and guaranteed access to the Strait of Hormuz.BlackRock (BLK) CEO Larry Fink warned that a spike in oil prices to $150 per barrel would trigger a global recession, as energy costs continue to pressure European economies.European equity markets rallied on hopes of a diplomatic breakthrough, with Germany’s DAX rising 1.5% and the STOXX 600 gaining 0. ...