Reversed within just a few hours! Trump says plans to strike Iran have been canceled, agreement largely finalized, and may be signed in Europe this weekend.

Trump posted that U.S.-Iran negotiations have been approved by Iran’s Supreme Leader, and the final terms have been approved by relevant parties including the U.S. and Israel. He added that the U.S. maritime blockade on Iran will remain in place until the agreement is finalized. Iranian media later stated that Iran has not yet approved any agreement text. Following Trump’s post, crude oil prices turned lower, at one point falling nearly 4%. Trump hinted that a major deal could be finalized within days, saying the Strait of Hormuz would be reopened immediately upon signing the agreement. The three major U.S. stock indices hit new daily highs, each rising at least 2%. Iran responded firmly to Trump’s earlier threats on Thursday of severe strikes and his remarks about seizing islands, warning that any further U.S. attack would trigger an even harsher response and that any miscalculation by the enemy would provoke retaliation beyond imagination.

wallstreetcn04:29

Express News | CME Group Plans to Launch Around-the-Clock Crude Oil and Gold Contracts

Breakings05:18

U.S. Treasury Market: U.S. Treasuries Surge as Trump Says U.S.-Iran Peace Deal Is Close to Being Reached

U.S. Treasury prices closed at their session highs, with yields falling by 8 to 11 basis points, after President Trump canceled a planned strike against Iran and stated that an agreement to end the war had been reached and would be signed shortly thereafter. Oil prices declined, steepening the Treasury yield curve, and the rally persisted through the close. Earlier, a poorly received 30-year bond auction had weighed on longer-dated Treasuries, but Trump’s announcement triggered a market reversal. Shortly after 3:30 p.m. New York time, Treasury yields remained near their session lows, with the spread between 5-year and 30-year yields widening by approximately 2 basis points; the 10-year yield dropped by 10 basis points.

Global Markets Update05:08

Oil markets withstand the largest supply shock in history! Middle Eastern crude quietly bypasses the Strait of Hormuz, but the disappearance of inventory buffers is amplifying risks of a price rebound.

A range of alternatives is helping keep international oil prices below $100 per barrel. Among these, an increasing number of Gulf energy-producing countries are using discreet methods to ship crude oil and other energy products to international markets, thereby alleviating supply shocks.

Zhitong FinanceJun 11 16:55

Express News | Trump stated that the U.S.-Iran agreement has entered the final drafting stage and is expected to be signed this weekend.

Breakings03:33

Express News | International oil prices declined on the 11th.

Breakings03:28