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U.S. stock futures jumped and oil prices tumbled on Sunday after the U.S. and Iran confirmed they reached a deal that would reopen the Strait of Hormuz, after weeks of dashed hopes.<\/p>\n
Futures tied to the\u00a0Dow\u00a0Jones industrial average leapt 267 points, or 0.52%. S&P 500 futures were up 0.79%, and\u00a0Nasdaq\u00a0futures surged 1.26%.<\/p>\n
U.S. oil futures sank 3.8% to $81.65 a barrel, while Brent crude tumbled 3.4% to $84.35. Gold rose 1.6% to $4,307.30 per ounce.<\/p>\n
The U.S. dollar was down 0.35% against the euro and dow 0.20% against the yen. The yield on the 10-year Treasury was flat at 4.483%.<\/p>\n
\u201cDeal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!\u201d Trump posted on social media a half hour before futures began trading in the U.S.<\/p>\n
Soon after that, Iranian President Masoud Pezeshkian said in a post on X, \u201cAgreement reached.\u201d Deputy Foreign Minister Kazem Gharibabadi confirmed that the U.S. and Iran will formally sign the agreement on Friday in Geneva.<\/p>\n
Trump later added that the Strait of Hormuz would reopen on Friday when the deal is signed and suggested more time was needed to remove mines in the narrow waterway.<\/p>\n
Pakistan, which has served as a mediator during the talks, said the two countries would electronically sign the agreement later on Sunday.<\/p>\n
Ever since the U.S. and Israel launched their war on Iran in late February, global markets have been gripped with the largest oil disruption in history as Tehran closed off the Strait of Hormuz.<\/p>\n
While Iran\u2019s conventional forces were decimated, its Islamic Revolutionary Guard Corps retained enough combat power to scare away global shipping.<\/p>\n
The U.S. has been unable to restore full freedom of navigation, though it carved out an alternate route through the strait to allowed a growing trickle of oil to exit the Persian Gulf.<\/p>\n
Although the deal announced Sunday should allow Hormuz traffic to return to normal levels, representing 20% of the world\u2019s oil and liquid natural gas flows before the war, the most contentious issues will be negotiated over the next 60 days.<\/p>\n
For example, Iran has demanded sanctions relief and access to its frozen assets, while details of how Iran\u2019s nuclear program will be handled remain unclear.<\/p>\n
Trump told the Wall Street Journal<\/em> that Iran agreed not to obtain nuclear weapons, but extraction of its enriched uranium could come later.\u00a0<\/p>\n \u201cWe\u2019ll get the nuclear dust later on when we\u2019re ready to go in and do it. I\u2019d say over the next month or two, there\u2019s no rush,\u201d he said.<\/p>\n Trump insisted Iran wouldn\u2019t receive any cash as part of the deal, but added that sanctions could be lifted. U.S. officials have previously said sanctions could be eased in phases as Iran follows through on nuclear promises.<\/p>\n The president\u00a0also walked back one of his initial priorities for the Iran war. Hours have airstrikes began, he exhorted the Iranian people to overthrow the regime. That\u2019s after he warned Tehran against cracking down on mass protests that started in late December.<\/p>\n To be sure, the U.S. and Israel killed Supreme Leader Ali Khamenei and other top officials, but he was quickly replaced by his son with other hardliners rising to leadership positions.<\/p>\n \u201cAs far as regime change, I never cared about regime change. This is the third group we\u2019ve dealt with, and this is the most rational group yet,\u201d Trump told the Journal<\/em>.\u00a0<\/p>\n<\/div>\n #Markets #celebrate #U.S.Iran #deal #sides #confirm #time #real<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock futures jumped and oil prices tumbled on Sunday after the U.S. and Iran confirmed they reached a deal that would reopen the Strait of Hormuz, after weeks of… <\/p>\n","protected":false},"author":1,"featured_media":7329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6381,4247,110,445,166,280,62,4224,91,14,3894],"class_list":["post-7328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-celebrate","tag-confirm","tag-deal","tag-iran","tag-markets","tag-oil","tag-real","tag-sides","tag-stock","tag-time","tag-u-s-iran"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7328"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/7329"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}