From Conflict to Compromise? Trump Announces Progress with Iran

A “great settlement” with Iran could be signed soon and the Strait of Hormuz would reopen when the deal is concluded, U.S. President Donald Trump said on 11 June. He said that talks with regional leaders and Iran-related negotiators have been "very fruitful so far.

Trump also stated he has suspended planned U.S. military strikes against Iran as the negotiators reportedly agreed to the last details of a peace agreement. On the other hand, Iranian sources have said that there has been no final agreement so far officially approved and that the deal may not be signed.

One of the world's vital energy chokepoints, the Strait of Hormuz transports about one-fifth of the world's oil traffic. If the United States is to reopen, it would be carefully monitored by the world's markets as it could take some of the pressure off oil prices and help relieve concerns about energy supplies.