U.S. and Iran initially approve Pakistan's mediation proposal; U.S. and Brent crude oil prices dip in short term.

BlockBeats news, October 20 - According to Israel's Channel 12: The proposal submitted by Pakistan's Army Chief to senior Iranian officials today has been approved by the United States, and Iran has also initially agreed. The proposal partially addresses Iran's demand for the return of frozen funds, stipulating that the interest generated from Iran's $6 billion in frozen funds in Qatari banks will be transferred to Iran.

Possibly affected by this news, U.S. and Brent crude oil prices briefly fell by about $0.8, currently at $97.51 per barrel and $105.76 per barrel, respectively. On the news front, reports say the U.S. and Iran have initially endorsed Pakistan's mediation proposal.