This morning's top stories: Iran has sent its formal reply to the 15-point deal through intermediaries as diplomacy stalls, Brent crude is back above $110 on the Hormuz deadlock, crypto markets recover as Fed-hike fears ease, and Asian stocks rally on AI-earnings optimism.
Iran Sends Formal Reply to 15-Point Deal as Diplomacy Stalls
Iran's response to the proposed 15-point deal was officially sent through intermediaries and is awaiting a US reply. Tehran's conditions include an end to what it calls "aggression and terror," guarantees against recurrence, compensation, and an end to the war "on all fronts." Foreign Minister Araghchi said Wednesday that Iran's current policy is "to continue resistance and defend the country," adding there is "no intention of negotiating." Meanwhile, a military spokesman said on state TV that "someone like us will never come to terms with someone like you. Not now, not ever." US Secretary of State Rubio called a truce "extremely difficult," saying economic pressure will continue until Tehran stops targeting ships in Hormuz, and called talk of Hormuz tolling "unacceptable." Iran has refused to surrender 400kg of nuclear material to Russian custody and refused to reopen Hormuz until Washington accepts its conditions.
Brent Crude Climbs Back Above $110 on Hormuz Deadlock
Brent crude traded around $110.15 on Wednesday, up more than 1 percent, as Rubio's remarks and Iran's refusal to reopen Hormuz re-priced war risk into oil. Tuesday's session settled at $108.79, down 0.69 percent, after touching a five-month high of $111.99. WTI December contracts traded near $98.48–99, up about 0.7–1.2 percent. LSEG data shows tanker attacks expanding beyond Hormuz into the Gulf of Oman, keeping a heavy risk premium in the market.
Crypto Recovers as Fed-Hike Fears Ease
Bitcoin held around $82,786, up 0.84 percent on the day with a range of $81,322 to $83,439 — comfortably above its 50-day EMA near $80,769. Ethereum gained 1.81 percent to about $2,447, while XRP rose 2.40 percent to $1.33 and Solana added 1.44 percent to $106. Markets were supported by easing fears of a US rate hike and a recovery in risk appetite.
Asian Stocks Rally on AI-Earnings Optimism
Asian equities climbed Wednesday on optimism around AI earnings: South Korea's Kospi rose 2.84 percent to 5,710.25 and Japan's Nikkei gained 1.40 percent to 64,972.67. Wall Street had a positive Tuesday, with the Dow up 1.02 percent to 52,495.88 and the S&P 500 up 0.28 percent to 7,712.57. Gold eased 0.2 percent to around $4,117.83 as Fed rate-hike expectations weighed on bullion, while silver traded near $57.88.
Trade and Exchange Watches: No New Moves
There were no new China–US or China–UK tariff moves in the latest checks, and China–US ocean freight rates remained steady at roughly $8,000 per FEU to the US West Coast. No new exchange delisting announcements were found; traders continue to track known upcoming events including Binance's Brazil token review on October 27 and the October 28 FOMC meeting.
Market snapshot: BTC ~$82,786 (+0.84%), ETH ~$2,447 (+1.81%). Brent ~$110.15 (+1%+) on the Hormuz deadlock; WTI December near $99. Gold ~$4,117.83 (-0.2%). Asian stocks higher; no new tariff moves.
