Trump-Iran deal cuts oil; stocks hit records, Bitcoin falls
Trump’s June 14 US-Iran agreement cut crude about 12%, lifted global stocks to records and briefly pushed Bitcoin above $67,000; the Fed later removed an easing bias.
Former President Donald Trump’s agreement with Iran, announced June 14, prompted immediate moves in global markets: crude oil fell about 12%, major equity indices reached new highs and Bitcoin briefly exceeded $67,000 before later retreating.
The deal commits both sides to an immediate ceasefire, the lifting of a U.S. naval blockade on Iranian ports and the reopening of the Strait of Hormuz. A formal signing is scheduled in Switzerland on June 19. The Strait of Hormuz handles roughly one-fifth of global oil shipments.
Oil prices moved from about $87 per barrel to near $76 on the announcement and continued to weaken in the following sessions.
Equity markets rose on the initial news. The Dow Jones Industrial Average reached a record above 52,000 on June 16. Europe’s STOXX 600 touched 639.20, and Japan’s Nikkei 225 closed at a record 69,317 on the day of the deal and crossed 70,000 the next session. The S&P 500 gained 1.6% and the Nasdaq added 2.87% on the deal day; both indices gave back some gains the following day while the Dow largely held its advance.
Crypto assets moved with the risk-on rally. Bitcoin topped $67,000 and the broader crypto market capitalization rose to about $2.3 trillion. Spot Bitcoin ETFs recorded roughly $85.8 million in inflows. After the Federal Reserve’s policy statement, Bitcoin fell toward $65,643. Ethereum traded near $1,791, XRP around $1.22 and Solana near $73.56.
On June 14 the Federal Reserve, led by Chair Kevin Warsh, left its policy rate unchanged at 3.5–3.75% but removed an easing bias from its statement. The Fed’s revised projections dropped the last projected rate cut in the dot plot, changing rate-cut expectations for 2026.
How quickly lower crude prices feed into consumer inflation will affect future policy decisions. The Strait of Hormuz is due to reopen on June 19; the timing of increased crude flows and any pass-through to retail fuel and broader price measures remains uncertain.
Markets will focus on incoming economic data and the planned signing in Switzerland for further information.
Articles by this author
