AEX Rises as Oil Prices Fall on Iranian Proposal Hopes

The Amsterdam stock exchange (AEX) closed higher on Friday, buoyed by a decline in oil prices. The AEX index rose 0.5 percent to 1,112.09 points, after a marginal loss the previous day.

The MidKap index, however, fell 0.3 percent to 1,081.05 points, marking a contrast to the AEX's performance.

The sentiment on the Damrak was influenced by developments in the Strait of Hormuz, with Iranian Foreign Minister Abbas Araghchi stating that Tehran has submitted a new proposal to Washington to reopen the strategic waterway. The proposal comes with certain conditions: the US must lift its naval blockade of Iranian ports, remove sanctions on Iranian oil exports, and agree to a ceasefire including Lebanon.

Hopes for a diplomatic resolution pressured energy prices, causing a barrel of U.S. crude to fall 0.8 percent to $93.84, while Brent crude slipped 0.5 percent to $106.12 per barrel.