The sharp decline in oil prices following the announcement played a key role in lifting sentiment. Lower energy costs could help ease inflation pressures and support both consumer demand and corporate margins.
The proposal calls for Hamas and all other militant groups in Gaza to hand over all weapons, making an emerging governing authority responsible for all arms. A third person briefed on the proposal called it a comprehensive framework to ensure the "complete handover" and "full decommissioning" of arms belonging to Hamas and all other armed groups in Gaza, and that if Hamas accepts the proposal, it would ensure large-scale reconstruction of Gaza.
A U.S. official noted a pattern: the progress was made without much personal intervention by Trump, but by envoys invoking his name and convincing countries they'll improve their standing by making a deal. "2025 is a year of opportunity for Trump to make peace, because leaders around the world see Trump as super strong and want to be on his good side. Now, Trump can be the most effective in his diplomacy. But every day that passes, this superpower diminishes," the official said.