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Trump says oil prices will plunge further

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Iran US peace agreement

Web Desk: The United States and Iran have reached an agreement to end more than 100 days of war and open the way for detailed negotiations on Iran’s nuclear programme and sanctions relief.

U.S. President Donald Trump announced the deal while speaking alongside French President Emmanuel Macron during the G7 summit in France. He said the agreement was already finalized and signed.

“The deal’s all signed,” Trump said. He added that Iran had committed not to develop a nuclear weapon and said enforcement would rely on strong monitoring measures.

In addition, Trump said the Strait of Hormuz would reopen completely by Friday once the agreement is formally signed in Switzerland. He also said naval activity had already begun to clear the waterway in preparation for full resumption of shipping.

Meanwhile, a senior U.S. official said Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf signed the agreement earlier this week. The White House has not yet released the full text of the deal.

Furthermore, Macron said France, the United Kingdom and about 20 other countries would lead a maritime coordination effort to ensure safe passage through the Strait of Hormuz. He said the initiative would support stabilization of global shipping routes.

Trump also signaled optimism about future relations with Tehran. He said he had a positive working relationship with Iranian leaders and suggested both sides could build a constructive diplomatic path moving forward.

However, details of sanctions relief and verification mechanisms remain unclear. Officials said the agreement text would be released in the coming days.

The Strait of Hormuz remains one of the world’s most critical energy corridors, and any disruption in the region has the potential to affect global oil prices and supply chains.

Read more: Trump announces fresh movement of oil tankers after truce

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