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Or sign-in if you have an account.Smoke rises from the site of a string of Israeli airstrikes that targeted the southern Lebanese city of Nabatieh on June 11, 2026. Photo by Abbas Fakih / AFP via Getty ImagesThe U.S. and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the Group of Seven world leaders are set to meet next week, according to senior officials.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorA senior Iranian official indicated overnight that a deal is likely, said a G7 official, who asked not to be named discussing sensitive matters. Another G7 official said it will likely take the form of a memorandum of understanding, rather than a final deal.This year’s summit takes place in Evian, in the French Alps, from June 15 to June 17. Geneva, in Switzerland, is nearby and being floated as a potential location for the signing as soon as Sunday, according to people familiar with the plans.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe official cautioned that Iran has yet to confirm it is ready for a signing ceremony and communications between its government and the U.S. have been slow since the war began in February.A second G7 official confirmed that there were signs that the U.S. and Iran were close to signing but also warned that previous diplomatic progress has not materialized.An Iranian foreign ministry spokesman said “we have not yet reached a conclusion on this matter.” He signaled there had been progress toward ending a war that’s caused chaos across the Middle East and sent energy prices surging.Another diplomat separately briefed on the matter said Iranian negotiators had agreed to a deal. It’s unclear if it’s been signed off by Supreme Leader Mojtaba Khamenei, who has the final say on major foreign policy and military matters, and has been in hiding since the war erupted with U.S. and Israeli strikes on Iran in late February.Oil prices fell and equities jumped late on Thursday when Trump said he had canceled imminent air strikes on Iran and claimed again that an agreement — to extend the U.S.-Iran truce by 60 days as well as for Tehran to reopen the strait and Washington to end a blockade of Iranian ports — was all but done.Energy prices dropped further on Friday. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.