Trump says US-Iran deal will be signed Sunday, Strait of Hormuz to reopen
U.S. President Donald Trump said on Truth Social that an agreement to end the war with Iran will be signed Sunday, with the Strait of Hormuz reopening immediately afterwards. Tehran confirmed the deal is close but said the timetable could slip by a day or two. Brent crude futures dropped sharply on the news.
U.S. President Donald Trump said on Truth Social on Saturday that the deal to end the war with Iran will be signed on Sunday and that the Strait of Hormuz will reopen to commercial traffic immediately after. White House officials told CNBC that the wording has been agreed but a formal statement will follow the signing ceremony.
Tehran's response was more cautious. Sources close to Iran's foreign ministry said the agreement may be signed within the next few days rather than strictly on Sunday. Pakistani Prime Minister Shehbaz Sharif, who has played a mediating role, said he expected a signature within 24 hours. The pact is reported to cover demining of the Strait, transit rules for shipping, and a calendar for lifting some sanctions.
Brent crude fell more than 4% on the news to a multi-week low, while Wall Street futures edged higher. Safe-haven assets such as gold and the Swiss franc gave back recent gains. Trump is due to travel to Evian, France, on Monday for the G7 summit, where Ukraine, trade, and the energy-market impact of a Hormuz reopening are expected to dominate the agenda. This is not investment advice.
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