The Trump administration and Iran have finalized a tentative peace deal, with a formal signing expected around June 19 in Switzerland. The agreement immediately ends hostilities and reopens the Strait of Hormuz.
The core provision allows Iran to resume oil sales instantly upon signing, with no phased rollout. Washington will lift its naval blockade and grant sanctions waivers covering banking, transportation, and insurance.
Brent crude fell over 5%, pushing prices toward $80 per barrel as markets priced in the return of up to 4 million daily barrels of Iranian supply. Equity markets rose broadly on the shift to a risk-on posture, though energy stocks faced margin compression.
Bitcoin climbed roughly 2%, breaching $65,500 for the first time in two weeks. The rally reflects risk-on sentiment, though analysts note unresolved strategic issues around broader sanctions relief could reignite volatility. Secondary effects on Middle Eastern stablecoin flows and DeFi activity are expected as traditional financial channels reopen.