A Peace deal has been Reached with Iran! The stock market is on FIRE, and oil prices are dropping BIG TIME! The U.S. and Iran have Signed the much-talked-about “memorandum of understanding” meant to end the war!
According to reports, the Strait of Hormuz is partially open and will be fully open by Friday. The U.S. blockade on Iran will be lifted as part of the deal.
The U.S. announced that oil-loaded ships are now LEAVING the Strait. Oil prices fell on the news, sometimes as much as 5%. At the time of this post, Brent Crude is at $83.15 per barrel, and WTI (West Texas Intermediate) is at $80.40 per barrel.
The stock market took OFF on the news. At the time of this post, market gains are:
Dow Jones Industrial Average (DJIA): ~51,822 (+620 points / +1.21%)
S&P 500: ~7,562 (+131 points / +1.76%)
NASDAQ Composite: ~26,650 (+762 points / +2.94%)
NEWS NATION IS REPORTING:
The United States and Iran have signed a memorandum of understanding to end a nearly four-month war, U.S. officials said Monday.
There was no immediate response from Tehran to the report that the agreement, which both sides announced overnight, had already been signed.
The MOU will provide a structure for how the U.S.-Iran relationship will operate in the future, the official said, speaking in a briefing with reporters. The official also emphasized that any benefits to Iran, such as sanctions relief and release of Tehran’s frozen funds, would only come based on their willingness to work with Washington on their nuclear program and not fund what the U.S. official described as “radicalism” in the region.
The agreement would also eventually fully reopen the Strait of Hormuz, a critical shipping route for global oil supplies.
Peace deal reached between US and Iran, Strait of Hormuz reopening
Earlier Monday, President Donald Trump drew calls from his opponents to publish the text.
“The deal’s all signed. And the strait is already partially opened,” Trump said shortly after arriving in Evian, France for a summit of the G7 group of big economies, hailing the agreement to open the Strait of Hormuz, where a three-month blockade of Gulf oil supplies has caused global economic disruption.
Trump announced Sunday the U.S. and Iran reached a peace deal. An official signing ceremony for the agreement is expected to be held on Friday in Geneva.
Asked when the text of the memorandum would be made public, Trump said: “Probably pretty soon. I would say after sometime after Friday… I think sometime in the very near future.”
While Trump has insisted Iran will not be allowed to develop a nuclear weapon, the proposed agreement gives the two sides 60 days to negotiate unresolved issues surrounding Iran’s nuclear program, including uranium enrichment and its stockpile of enriched uranium, according to a Reuters report.
Meanwhile, the status of Iran’s nuclear program remains unclear. While Trump has said Iran will not be allowed to develop a nuclear weapon, neither side has publicly detailed how nuclear issues would be addressed under the agreement.
Should Iran not follow the agreement, officials say Trump has options at his disposal. The administration will be maintaining the current military presence in the region while negotiations are underway and a drawdown of forces will be contingent on a final deal.
The future of Lebanon is another unresolved issue. Iranian and Pakistani officials have said the agreement would halt fighting on all fronts, including Lebanon, but Israel was not involved in the negotiations and has continued military operations there.
Vance says Gulf countries will fund a $300B reconstruction bank
Vice President JD Vance says Gulf countries will fund a $300 billion reconstruction bank that Iran can tap into if it meets certain requirements.
“That’s the sort of things they could have access to so long as they honor their end of the obligation,” Vance said Monday on CBS Mornings.
Ships are moving out of Strait of Hormuz, Trump says
President Trump said Monday that many vessels are beginning to move out of the Strait of Hormuz after Washington and Tehran agreed to a peace deal.
“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” Trump posted on social media. “They are going along the Southern “Highway,” which is totally safe, secure, and pristine. There are other areas of travel, also!”
The Strait of Hormuz has been at the center of conflict between Iran and the U.S. since February. A peace deal between the two countries is expected to be signed Friday.
The deal means Iran will not get nuclear weapons. The U.S. is not drawing down forces in the region at this time.
Heck yeah! Get this over with and get us 99-cent gas! If Iran reneges, then BLAST THEM to the stone age! America! Let’s Go!!!