U.S. and Iranian officials are finalizing an agreement to end recent hostilities, with President Donald Trump describing the deal as largely negotiated. Secretary of State Marco Rubio reported significant progress on Sunday, indicating a formal announcement may occur within hours. The agreement centers on reopening the Strait of Hormuz to global energy shipments.
The draft includes a 60-day ceasefire extension where Iran must clear mines and allow toll-free passage for vessels. In exchange, the U.S. will lift blockades on Iranian ports and potentially unfreeze foreign financial assets. This allows Tehran to resume international oil sales immediately.
Restoring the strait serves as a bearish catalyst for global natural gas markets by easing LNG tanker supply constraints. The move removes a substantial geopolitical risk premium from shipping costs. Analysts expect downward price pressure across European and Asian energy markets.