U.S. and Iranian negotiators have reportedly reached a preliminary 60-day memorandum of understanding (MOU) aimed at extending a ceasefire and initiating discussions on Iran’s nuclear program, pending President Trump’s approval. The agreement includes provisions for the full reopening of the Strait of Hormuz, with Iran committing to mine clearance and the U.S. lifting its naval blockade proportionately as commercial shipping resumes. Additionally, Iran would agree not to pursue nuclear weapons, while the U.S. would consider lifting sanctions and unfreezing Iranian assets.

This development has already impacted financial markets, with crude oil prices declining as the potential return of Iranian oil signals an increase in global supply. The U.S. dollar is weakening, reflecting reduced demand for safe-haven assets, while gold has seen a slight uptick. However, market participants remain cautious, as the deal is not yet confirmed and could lead to a sharp correction if negotiations falter.

Traders should closely monitor the situation, as the outcome of this agreement could significantly influence oil prices and broader market sentiment, particularly if geopolitical tensions ease further.

Source: xtb.com