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

Exxon's Head of Global Trading Set to Retire - Reuters

Seeking Alpha04:02

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

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 | Iranian media: The likelihood of Iran approving the text is very high.

Breakings03:17

Express News | Trump: Canceled tonight's strike on Iran; will announce the time and location for signing the agreement soon.

Breakings01:34