A shipping chokepoint responsible for roughly 20% of the world’s oil transit just went from geopolitical flashpoint to diplomatic breakthrough.
US stocks surged after President Trump announced a framework agreement with Iran on June 14, with the S&P 500 climbing between 1.5% and 1.9%. Oil prices moved in the opposite direction, with Brent crude falling around 5% to approximately $83 per barrel. The crypto market added roughly $60 billion in total market capitalization.
What the deal actually includes
The agreement centers on reopening the Strait of Hormuz to international shipping and lifting the US naval blockade on Iranian ports. Iran had begun restricting access to the Strait back in March 2026 as tensions escalated with both the US and Israel. That kicked off roughly three months of conflict that rattled energy markets and dragged risk assets lower across the board.
The formal signing is scheduled for June 19 in Switzerland. That triggers a 60-day window for further negotiations covering Iran’s nuclear program and other unresolved issues.
