The US and Iran have reached a peace deal to end more than 100 days of hostilities, a development that immediately rippled through global markets. Bitcoin climbed roughly 2% to around $65,800, while Brent crude dropped more than 4% to approximately $83 per barrel.
The agreement, mediated primarily by Pakistan with support from Qatar, was announced by President Donald Trump on June 14, coinciding with his 80th birthday. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf, Trump, and Vice President JD Vance participated in an electronic signing ceremony, with a formal signing scheduled for June 19 in Switzerland.
What the deal actually does
The core of the agreement centers on two immediate actions: reopening the Strait of Hormuz and ending the US naval blockade on Iran. The Strait is expected to be fully reopened by June 19 or 20.
The Strait of Hormuz is the narrow waterway between Iran and Oman through which roughly 20% of the world’s oil supply passes.
