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For the first time since signing a preliminary agreement on June 15, the United States and Iran have carried out reciprocal attacks over control of the Strait of Hormuz. Analysts warn the fragile deal could collapse as both sides accuse each other of violations.
Iran's Supreme Leader Mojtaba Khamenei expressed reservations about a temporary peace deal with the US but allowed President Pezeshkian to proceed, sparking criticism from hardliners. The agreement has deepened political divisions, with reformists calling it a victory document and conservatives insisting on conditions. Internal debates continue as rivals demand more say in the negotiations.
US and Iranian representatives are set to meet in Switzerland on Friday for a ceremony marking an agreement that ends the US-Israel war on Iran and launches a new round of talks. A 14-point memorandum, signed Wednesday, provides the framework for 60 days of negotiations on issues including Iran's nuclear program and the Strait of Hormuz.
Brent crude oil dropped 1.6% while major stock indices in Japan, South Korea, and Taiwan gained after the US and Iran signed a provisional peace agreement. The deal aims to end nearly four months of disruption to global energy supply chains, though shipping firms remain cautious about the safety of transiting the Strait of Hormuz.
Brent crude oil prices hit their lowest since early March on Wednesday, fueled by optimism about the signing of a framework peace agreement between the US, Israel, and Iran. Analysts say the market is pricing in a best-case scenario for the reopening of the Strait of Hormuz.
Despite the US and Iran reaching a tentative agreement to end nearly four months of conflict, many Iranians remain skeptical about the deal's ability to bring lasting peace or improve their lives. On the streets of Tehran, residents exhausted by years of sanctions and tension do not believe the ceasefire will hold, as key issues like Iran's nuclear program and frozen assets remain unresolved. The deal, expected to be signed Friday, would reopen the Strait of Hormuz in exchange for lifting the US naval blockade, but many Iranians fear both sides will break it based on their own interests.
President Donald Trump and Iranian leadership announced a preliminary agreement to end a 108-day war, reopening the Strait of Hormuz and unfreezing $12 billion in Iranian assets. The deal, mediated by Pakistan, will be signed in Switzerland on June 19, but key details such as enrichment suspension duration remain under negotiation.
Asian stock markets surged after the US and Iran announced a deal to end the war and reopen the Strait of Hormuz, sending oil prices down more than 4 percent. Japanese and South Korean benchmarks led gains, with US futures also rising. The agreement, confirmed by both sides, is expected to ease global inflation fears ahead of the Fed's rate decision.
On June 8, 2026, the US and Iran announced a historic peace agreement to end their conflict, including a ceasefire and troop withdrawal. While world leaders hailed the move, analysts warned of implementation challenges from hardliners on both sides.
