The U.S. and Iran have reached a peace agreement; the Strait of Hormuz will reopen on Friday — Trump

“Everything has already been signed,” said U.S. President Donald Trump, commenting on the anticipated peace agreement between Washington and Tehran, according to Reuters. The statement was made during a meeting with French President Emmanuel Macron ahead of the G7 summit. Earlier, several media outlets reported, citing an unnamed senior U.S. administration official, that the so-called memorandum of understanding was signed electronically on Sunday, but the official ceremony will take place on Friday, June 19.

According to Trump, the Strait of Hormuz is “already partially open” and will be “fully open” by Friday. The same White House official also noted that the deal provides for the immediate resumption of shipping through this vital waterway, as well as the lifting of the U.S. blockade on Iranian ports. “You will see a significant increase in traffic through the Strait of Hormuz—in fact, it is already beginning, and will then gradually increase,” he said. “We probably won’t return to normal levels in two weeks, but we will see a significant increase in traffic through the strait.”

According to this source, the details of the agreement will be released within the next 24 to 48 hours.

Amid news of a resolution to the conflict in the Persian Gulf, oil prices fell: Brent futures dropped 4.8% and traded just above $83 per barrel, while WTI futures plunged 5.2% to $80.5 per barrel. The U.S. stock market rallied: the S&P 500 jumped 1.7%, the Dow Jones Industrial Average rose 1.2%, and the tech-heavy Nasdaq Composite soared nearly 3%; if this momentum continues, the index will post its biggest gain since late March, according to MarketWatch. Gold rose 2.5%. Bitcoin gained nearly 5% over the past 24 hours, reaching $66,900. This day could be the best for the largest cryptocurrency since March 4.

This article was AI-translated and verified by a human editor