Iran to Deliver Response to US 14-Point Peace Plan Today; WLDOIL at 93.15

Iran is expected to issue its official response today to a US 14-point peace proposal via Pakistani mediators, seeking guarantees against military action, reparations, joint Strait of Hormuz management, and a 30-day nuclear/sanctions negotiation window. Developments escalated from Rubio's May 5 announcement ending Operation Epic Fury, to May 6's nuclear draft reports, Pakistan talks, Iranian safe-transit pledge, Axios near-deal scoop, and Trump's 'very good talks' sparking WLDOIL plunges to 95.10 (-7%) then partial rebound to 93.15 (-2%) on May 7. Roughly 1,500 ships remain stuck in Hormuz (20% global oil), fueling volatility as diplomacy weighs against escalation risks.