President Donald Trump announced that a deal to end the ongoing US-Iran conflict has been signed, with a formal signing ceremony expected on June 19 in Geneva, Switzerland. Markets didn’t wait for the fine print.
Bitcoin climbed above $66,000 on the news, while oil prices fell below $80 per barrel as traders priced in a world where the Strait of Hormuz reopens and naval blockades become a memory.
Iran says not so fast. Iranian officials have cautioned that reports of a finalized agreement are premature, even as mediators including Pakistan confirmed that substantial progress has been made.
What the deal reportedly includes
The agreement, as described following Trump’s June 14-15 announcement, covers several critical areas. Military operations between the US and Iran would face an immediate and permanent cessation. Trump has authorized lifting the US naval blockade imposed on Iranian ports.
