Trump Declares the Iran Deal Done, Orders the Strait of Hormuz Reopened

It is done, or close to it. President Trump announced today that the deal with Iran is complete, and he ordered the US naval blockade lifted and the Strait of Hormuz reopened, toll free. After more than 100 days of war that choked global energy supply, both sides declared an immediate and permanent end to military operations on all fronts, including Lebanon. The formal signing is set for June 19 in Switzerland.

This is the moment markets have been waiting weeks for. The conflict's worst damage ran through Hormuz, the chokepoint that carries roughly a fifth of the world's oil, which Iran had repeatedly blocked. That on-off closure was the single biggest disruption to global energy supply in recent memory, and it kept a war premium baked into every barrel. Removing the blockade goes straight at that premium.

The framework runs to 14 points. The first is lifting the US blockade of Iranian ports. It calls for an end to hostilities across every front, and a pledge from Tehran not to pursue a nuclear weapon, with a fresh round of talks to negotiate the details. The announcement came alongside Pakistan's prime minister, who helped broker it. Each side is expected to sign electronically, with the official ceremony in Switzerland on Friday. Mediators will run pre-implementation meetings through the week.

Markets had already started moving on the breakthrough. Oil sank more than 3 percent on Friday as the deal firmed up, with WTI closing near 84.88 dollars and Brent around 87.33, both at their lowest since early March. With markets shut over the weekend, the real test is Monday's open. If Hormuz traffic actually starts normalizing, the supply shock that drove crude into the mid-90s keeps unwinding, and that filters into inflation math everywhere.

Worth staying measured, though. Iran pushed back on Trump's timeline, saying the signing could slip to the coming days, and Israeli strikes in Lebanon have already tested the agreement once. This same ceasefire has cracked before. Announcements are easy. Implementation is the hard part. What matters is tankers moving through the Strait, not a ceremony date. So watch the shipping data, then the signing on Friday.

After three months of war and an energy market held hostage to one waterway, the headline is real relief. Now it has to hold. If the blockade lifts and the oil flows, this is the story that resets the second half of the year. Friday in Switzerland is the next checkpoint.