President Trump announced that a deal with Iran is set to be signed tomorrow, with the Strait of Hormuz opening to all maritime traffic once the agreement is finalized.
Roughly one-fifth of global oil and liquefied natural gas trade passes through the Strait of Hormuz.
What the deal looks like
The framework that Trump has described centers on a 60-day ceasefire, paired with Iranian commitments to clear mines and restore free passage through the strait. Negotiations have also touched on Iran’s nuclear program, though the specifics on that front remain murky.
Trump first signaled on May 23 that the agreement was “largely negotiated.” That initial announcement triggered a Bitcoin rally as traders interpreted the news as a meaningful de-escalation signal. The proposed deal has been mediated in part by Pakistan and Qatar, reflecting the breadth of international diplomatic engagement required to get both sides to the table.
