Trump Announces Iran Deal; Oil Falls, Bitcoin Rises

Donald Trump posted on Truth Social that a peace agreement with Iran is complete and will be signed on June 19 in Switzerland. The post stated the deal ends ongoing military operations and would reopen the Strait of Hormuz to commercial traffic. Trump wrote, “the deal with Iran is complete. Signing scheduled for June 19. Peace achieved!” and added, “I hereby fully authorize the toll free opening of the Strait of Hormuz… let the oil flow.”

Pakistan mediated the agreement with support from Qatar, Saudi Arabia and Turkey. According to officials, the pact includes verification measures, a timetable for technical talks on Iran’s nuclear program and partial easing of sanctions. Officials described the cease-fire as covering Hezbollah in Lebanon and stopping military actions “on all fronts.” Israel is not a signatory and has expressed reservations.

Pakistani Prime Minister Shehbaz Sharif wrote that mediators will hold pre-implementation meetings this week to prepare for the June 19 signing in Switzerland and to lay the groundwork for technical negotiations.

Markets reacted immediately. U.S. crude futures fell about 3.3%, trading in the mid-$80s a barrel; WTI was reported at $84.88, down about 3.2%, and Brent near $87.33, down about 3.4%. Bitcoin rose to about $65,300, up roughly 1.3% in recent hours. Spot gold traded near $4,218.56 with a small intraday gain; the metal has declined about 10% over the past month.

Traders priced in the prospect of increased flows through the Strait of Hormuz and a gradual recovery of Iranian exports if the agreement is implemented. Analysts pointed to technical support for gold between $4,100 and $4,200 and noted Bitcoin remains range-bound between about $63,000 and $65,000.

Officials described that pre-implementation meetings this week will precede the formal signing on June 19 and that verification steps and technical talks are part of the timetable for implementation.