In a post on Truth Social, Trump declared the deal’s completion.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously, I authorize the immediate lifting of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow! President DONALD J. TRUMP,” he stated.
In another post, he emphasized that the agreement will promote peace and security throughout the region. He also confirmed the opening of the Strait of Hormuz and the immediate lifting of the US naval blockade.
Pakistan Prime Minister Shehbaz Sharif commented on “X,” stating that the peace deal was achieved after “intensive talks,” with both sides agreeing to the immediate and permanent cessation of military operations across all fronts, including Lebanon.
He further noted that the official signing ceremony is scheduled for Switzerland on Friday, June 19, a detail that Trump also confirmed in his social media post.
However, an official statement from Iran is still pending to confirm the signing of the deal.
How Did Markets And Other Asset Classes React To US-Iran Deal?
US stock futures surged following Trump’s announcement, with Dow futures rising nearly 350 points and Nasdaq futures increasing by nearly 450 points. Crude oil prices dropped close to 5%, while precious metals like Gold and Silver experienced gains between 2% and 3%.
The US Dollar index continues to hover around the 99.5 mark, while the 10-year bond yield is approximately at the 4.5% level.
The US-Iran War
The US-Iran war, which also involved Israel and its assaults on Lebanon, commenced near the end of February, with a ceasefire reached on April 8.
Despite the ceasefire, there were sporadic exchanges of fire between the conflicting parties, which threatened to undermine the entire process.
Israel conducted attacks on Lebanon on Sunday, claiming they were a response to Hezbollah sending drones into Israeli territory, prompting Trump to assert that the negotiations for peace in the region are nearing completion and that the situation must not be “blown up.”
