Oil Prices Tumble and Stocks Surge After Trump Announces Deal With Iran [View all]

Source: New York Times

Oil Prices Tumble and Stocks Surge After Trump Announces Deal With Iran

By Rebecca F. Elliott and Joe Rennison
Published June 14, 2026
Updated June 15, 2026, 5:06 a.m. ET

Oil prices fell and stocks rose on Monday after the United States and Iran reached an agreement that President Trump said would reopen the Strait of Hormuz.

Mr. Trump’s social media post capped weeks of fraught negotiations between the countries that, at times, seemed to make little progress. A key mediator in the peace talks, Pakistan's prime minister, said the agreement covered Lebanon and that a signing ceremony was scheduled for Friday in Switzerland.

The specifics of the agreement remained unclear, but restoring shipping through the strait, the strategic passageway that functions as the primary artery for oil and natural gas from the Middle East, has been among Mr. Trump’s top priorities.

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Read more: https://www.nytimes.com/2026/06/14/business/oil-stocks-gas-iran.html