Vice President JD Vance gives remarks at a Sports Council announcement, Thursday, July 31, 2025, in the Roosevelt Room of the White House. (White House Intern Photo by Julian Casciano)

UPDATE: Iran has reportedly rejected the peace deal.

Oil prices closed at $88.10 per barrel (WTI) yesterday amid rumors that President Trump had offered Iran a 14-point peace plan (many reports indicate a 15-point plan, but the 15th point has not been reported). The peace plan was reported by Israel’s Channel 12 news reporter Yaron Avraham, and included the following points:

  1. Iran must dismantle existing nuclear capabilities
  2. Iran must commit never to pursue nuclear weapons.
  3. No uranium enrichment on Iranian territory.
  4. Iran must hand its stockpile of enriched uranium to the International Atomic Energy Agency (IAEA).
  5. The Natanz, Isfahan and Fordo nuclear facilities must be dismantled.
  6. The IAEA must be granted full access to Iran’s nuclear facilities.
  7. Iran must abandon its “regional proxy paradigm.”
  8. Iran must cease the funding, directing and arming its proxies.
  9. The Strait of Hormuz must remain open.
  10. Iran’s missile program must be limited in both range and quantity.
  11. Iran must limit its use of missiles to self-defense.

In return, Iran would benefit from:

  1. The end of sanctions imposed by the international community.
  2. US assistance to advance its civilian nuclear program.
  3. A “snapback” mechanism allowing for the automatic reimposition of sanctions if Iran fails to comply would be removed.

You can see the oil market’s response to the potential for peace in the falling prices on my chart below.

Prices are still well above where they were before the outbreak of war, but progress toward peace could settle the market. The Iranians have reportedly asked that Vice President JD Vance lead negotiations, so that is further proof that negotiations might actually be happening.

If VP Vance does go to Pakistan to negotiate, it would be a strong signal that a peace agreement could actually happen.

Action Line: A quick resolution to hostilities in the Persian Gulf, with a potential new relationship between Iran’s new regime and the United States, is the best possible outcome. Click here to subscribe to my free monthly Survive & Thrive letter.

Originally posted on Your Survival Guy.