Oil fell after the US and Iran agreed to an interim deal to end their war, potentially allowing the Strait of Hormuz to reopen and easing a supply crunch that has rattled global energy markets. Bloomberg's Stephen Stapczynski reports. (Source: Bloomberg)
President Donald Trump marked his 80th birthday on Sunday by hailing an initial agreement to end the war in Iran and staging a cage-fighting show on the White House's storied South Lawn.
Israel announced it would not withdraw from territory it seized in Lebanon despite the peace deal.
Donald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crudeMiddle East crisis: live updatesPeace deal between US and Iran announced, with strait of Hormuz expected to reopenWhat do we know about the US-Iran peace deal – and what questions remain?Global oil prices have tumbled amid fresh hopes that a US-Iran peace deal may end the greatest energy supply crisis in the history of the market.The price of Brent crude dropped 4% to below $84 (£62) a barrel as the new trading week began in financial centres across Asia-Pacific, amid optimism that the strait of Hormuz could reopen shortly and bring a return of Gulf oil exports to the market. Continue reading...
Republican Sen. Lindsey Graham (S.C.) said Sunday that he is “concerned” that the U.S. and Iranian governments have “different” views of the deal that the two sides have agreed to. “I am pleased to hear the memorandum of understanding with Iran to allow the Strait of Hormuz to open has been agreed to. I will…
In a call to The New York Times, President Trump praised Russia’s and China’s leaders and described Israel’s prime minister as “a very difficult guy.”
Trump says the oil will flow but state media reports out of Tehran suggest it could be under ‘Iranian arrangements’ ; UFC paying White House fighters in Trump crypto. Key US politics stories from Sunday 14 June at a glanceThe Iranian deputy foreign minister, Kazem Gharibabadi, confirmed in the early hours of Monday an agreement for an “immediate end” to the US-Iranian war, and said Lebanon was included in a peace deal due to be signed on Friday. Pakistan’s prime minister, Shehbaz Sharif, announced the agreement on Sunday afternoon, saying both sides would be declaring “the immediate and permanent termination of military operations on all fronts”.Regional officials said Qatari mediators had travelled to Tehran on Sunday to finalise terms of a memorandum of understanding (MOU). Uncertainty swirled, though, including around whether Israel would end its attacks aimed at Hezbollah in Lebanon, while Iranian hardliners registered their opposition to what they see as capitulation to the US. Lindsay Graham, a Republican senator, said he was pleased to hear about the MOU but added: “I am somewhat concerned that Iran’s view of the agreement seems different than what the American negotiating team is claiming.” Continue reading...
President Donald Trump's announcement on Sunday that the U.S. and Iran had reached a new agreement that provides a pathway to ending the more-than 100-day-old conflict was mocked by some political analysts as "insulting."Trump wrote on Truth Social that he had fully authorized the "toll-free" reopening of the Strait of Hormuz, a global waterway that accounts for 20% of global energy trade. Pakistani Prime Minister Shehbaz Sharif, who has been mediating the talks, posted on X that the agreement "[laid] the foundation for the technical talks and the official signing ceremony," which is scheduled for this Friday. The announcement was made less than one hour before Trump's "UFC Freedom 250" event at the White House began. It also sent Brent crude oil prices tumbling to roughly $83 per barrel, its lowest level since the war began. Initial details of the deal from Iranian state media say the U.S. agreed to include a reconstruction package worth at least $300 billion and to release $12 billion of the regime's frozen assets. Political analysts and observers mocked the announced deal on social media, arguing that it was yet another instance where Trump backed down from his threats. "The reported details of this Iran deal are so insulting to the 13 U.S. servicemen and women who died," Mike Nellis, a Democratic political strategist, posted on X. "We’ve accomplished nothing. Iran is reopening the Strait of Hormuz, not giving up its uranium, and Trump is going to give them $25 billion. That’s way worse than the deal Obama negotiated.""Congrats on things being back to how they were before you and Israel started this nonsense. What an incredible achievement," Barry Malone, a journalist and political commentator, posted on X. "Until this is in writing and all parties sign in agreement, there is NO deal," Gabe Sanchez, who hosts the "What Was That Show" podcast, posted on X. "Trump gave away everything and I’m positive that he will screw it up even more.""The president surrendered on his birthday," writer Peter Rothpletz posted on X.
Former Vice President Mike Pence cast doubt on the possibility of a deal between Iran and the U.S. over the two countries’ war shortly before President Trump announced a deal has been reached on Sunday. “My concern right now is not with the intentions of the president. Look, I think the president has earned a [...]