Erika Herskowitz

And Brent crude is down 1.8 percent to $91 a barrel.

That's news when you want it with Bloomberg News Now.

I'm Erica Herskowitz and this is Bloomberg.

News when you want it with Bloomberg News Now, I'm Erika Herskowitz.

President Trump is expected to make a call on a possible truce with Iran soon.

He's meeting in the Situation Room at this hour to make the final decision after a preliminary deal between Washington and Tehran to extend a ceasefire by 60 days was reported yesterday.

We get more from Bloomberg's Tyler Kendall.

Bloomberg's Tyler Kendall.

Iran's semi-official Tasnim news agency says the text of the memorandum has changed in recent days and Western media accounts of its content aren't accurate.

Meanwhile, Pakistan's foreign minister is in Washington today to meet with U.S.

Secretary of State Marco Rubio to discuss Pakistan's efforts to promote regional peace and stability through dialogue and diplomacy.

And while there's hopes of a possible reopening of the Strait of Hormuz, Chevron CEO Mike Wirth says several vessels transiting through the strait have been attacked in recent days, underscoring the very real risks that remain for shipowners in the Persian Gulf whether or not a peace accord is signed.

Wirth, a guest on Bloomberg Television, says Chevron will not pay a Hormuz toll.

Worth, speaking with Bloomberg Television, says ship owners and their insurers will have to feel comfortable that passage is safe for oil to begin moving again and be willing to send ships back into the strait for trade to get back to normal.

Hopes that a ceasefire deal could pave the way for an end to the Iran conflict is driving stocks toward a historic streak of weekly gains, with the market also buoyed by artificial intelligence trade.

The Dow is up more than two-thirds percent.

The Nasdaq ahead four-tenths of a percent.

The S&P up a third of a percent.

The 10-year Treasury yield is at 4.43 percent.

The two-year Treasury yield at 3.99 percent.