Some mixed messaging on a ceasefire being worked through by Iran and the US, that quickly sent global oil prices below $100USD a barrel.

Both countries have accepted Pakistan's proposal to pause fighting two weeks and the US President's backtracked on threats to obliterate Iran.

Iran's put forward a 10-point plan, which includes letting ships through the Strait of Hormuz, with Donald Trump saying the US will help with the traffic buildup.

Newstalk ZB senior political correspondent Barry Soper unpacked today's announcement further.

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