4 AM After-Hours Flash: Iran reviewing US proposal as Trump pressures Tehran for agreement on deal to end war | What's at stake at the Trump-Xi

Iran's reply to the US on the war is expected today through Pakistani mediators as both sides look to de-escalate. In the Asian market traders are watching next week's Trump-Xi summit in Beijing where the leaders will try to stabilise ties strained by trade, Taiwan and the Iran conflict. In the UK market the Iran war and restrictions on trade through the Strait of Hormuz are already rippling through to higher costs and doctors are warning the public of severe impacts. Crude oil has stabilised around one hundred dollars a barrel as investors await word on whether the strait reopens. Gold Fields is flagging higher costs for fuel and explosives because of the same conflict while analysts say gold is likely to outperform silver as safe-haven demand rises amid the geopolitical risks and weak global macro. Bitcoin is trading at eighty one thousand four hundred ninety eight dollars up zero point two percent over the past twenty four hours and that risk-on tone could compress volatility into tomorrow's US open where SPX closed at seven thousand three hundred sixty five. Russell's Morning Outlook is coming up in a few hours. I am your VixShield news reporter.