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Analysts forecast Brent crude will trade in a $75–80 range over the next two months as shipping through the Strait of Hormuz slowly returns, with prices unlikely to fall below $70 in the near term. Full restoration of physical supplies is expected to take months, with some experts predicting a recovery period of six to eighteen months.
US President Donald Trump announced that ships are starting to move through the Strait of Hormuz following a preliminary US-Iran deal, but ship-tracking data shows only a handful of vessels have transited, with hundreds still waiting. The reopening faces security concerns such as mines and tolls, while shipping operators and seafarers' advocates remain cautious.
US President Donald Trump announced a potential deal with Iran to end the Middle East war, possibly signed on June 14, involving the Strait of Hormuz. Meanwhile, Iranian dissidents express alarm, and Israel vows to maintain its presence in Lebanon.
French President Emmanuel Macron warned Iran against imposing tolls on shipping through the Strait of Hormuz, as a US-Iran deal to end the Middle East war takes effect. A joint France-UK military mission is ready to deploy to help secure the reopened waterway, though risks from potential mines remain. The agreement includes a 60-day negotiation process and the release of $12 billion in frozen assets, according to reports.
Israeli Defence Minister Israel Katz said troops will remain in southern Lebanon, complicating US-Iran interim peace talks. Israel plans to stay 'indefinitely' in lands it holds in Lebanon, Syria and Gaza, while Iran has tied the deal to halting attacks on Hezbollah. The remarks are the first official Israeli comments since the interim deal announcement.
Iranian state media reported a ceasefire deal with the US that includes the initial unfreezing of $12 billion in assets, but experts quoted by The Jerusalem Post expressed doubt. President Trump said Iran will receive no money, and a separate report indicates the deal may include sanctions relief and a 60-day negotiation period.
The US Federal Reserve and Bank of England are expected to keep interest rates unchanged this week, as a peace deal between the US and Iran eases inflationary pressures. Meanwhile, UK unemployment fell and wage growth strengthened, while the European Central Bank raised rates last week.
South Korea's presidential office has expressed cautious optimism over a reported U.S.-Iran ceasefire deal, welcoming the agreement while noting uncertainties remain about the immediate reopening of the Strait of Hormuz. The office voiced support for President Trump's efforts but indicated further nuclear negotiations could affect the deal's durability.
On the eve of the G7 summit in Évian, Geneva saw one of its largest demonstrations in years, drawing about 20,000 protesters. The rally, organized by the 'No-G7' coalition, turned violent when masked groups clashed with police, leading to tear gas, water cannons, burning cars, and damaged buildings.
World leaders and regional ministers have welcomed the US-Iran agreement, mediated with significant contributions from Pakistan and Qatar, which includes a permanent ceasefire and reopening of the Strait of Hormuz. The Islamabad Memorandum of Understanding is seen as a diplomatic breakthrough, with praise for Pakistan's instrumental role.
The Pakistan Stock Exchange's benchmark KSE-100 index surged over 4,600 points on Monday, buoyed by a preliminary US-Iran agreement and expectations of lower oil prices. Analysts credited improved sentiment and fiscal measures in the recent budget, while the central bank kept its policy rate unchanged.
Seoul stocks closed sharply higher Monday, with the KOSPI gaining 5.2 percent to reach 8,545.98, driven by news of a US-Iran agreement to end their war. Foreign and institutional investors were net buyers, while the Korea Exchange issued a sidecar to curb excessive volatility. The won also rose sharply, and most market heavyweights gained, with an official signing ceremony scheduled in Switzerland on Friday.
The United States and Iran have announced a preliminary ceasefire deal, set to be signed later this week, which would reopen the Strait of Hormuz and set the stage for negotiations on a long-term agreement. While world leaders have welcomed the move, Israel's defense minister said his country will not withdraw from territory seized in Lebanon, and Jewish groups in the US are split in their reactions.
Brent crude has fallen to its lowest levels since early March as a US-Iran peace deal appears imminent, raising hopes for the reopening of the Strait of Hormuz. While markets react positively, experts caution that a swift return to normalcy is uncertain and could take months.
The US and Iran have announced a tentative peace agreement, with the reopening of the Strait of Hormuz expected after the deal is signed on Friday. While some lawmakers welcome the move, others express concerns over the lack of details and the need for strict oversight.
US President Donald Trump is set to meet G7 leaders in Evian to discuss a forthcoming US-Iran memorandum of understanding, scheduled for signing in Geneva on Friday. The deal reportedly includes the release of $12 billion in frozen Iranian assets, while Israeli strikes on Beirut continue amid the diplomatic push.
Reports indicate the US and Iran have agreed on a memorandum of understanding, an interim measure that extends the ceasefire for 60 days and includes a two-step peace process. Analysts describe the agreement as an outline for negotiations rather than a comprehensive settlement, with challenges ahead including the nuclear file and regional tensions.
Stock markets around the world surged and oil prices dropped following the announcement of a deal between the US and Iran to end the US-Israel war on Iran and reopen the Strait of Hormuz. The S&P 500 and Nasdaq posted significant gains, while Brent crude fell sharply, reflecting hopes for restored stability in energy supply chains.
Barnaby Joyce says he is not worried by reports Pauline Hanson may want her daughter to lead One Nation, as a Senate inquiry into the federal budget begins, the fuel excise cut is extended at a reduced rate, contactless payments launch on Melbourne trams, and the US and Iran reach a peace deal.
Diplomatic talks between the United States and Iran have produced a framework agreement including oil export waivers and asset releases, even as Israeli military operations in Lebanon and exchanges of fire with Iran threaten the process. Israeli leaders have rejected any requirement to withdraw from southern Lebanon, drawing public criticism from President Trump. Multiple outlets report the conflict has entered its fourth month with ceasefire arrangements under severe strain.