BREAKING: Iran Accepts 2-Week Ceasefire — What It Means for Markets
Iran has accepted a two-week ceasefire after US President Donald Trump suspended attacks, contingent on Tehran reopening the Strait of Hormuz. Iran's foreign minister confirmed safe passage through the waterway will be possible for two weeks via coordination with Iranian armed forces. (Al Jazeera)
The ceasefire came after talks with Pakistani PM Shehbaz Sharif, who urged Trump to extend his deadline for two weeks to allow diplomacy to run its course. (Fox News)
Iran's Supreme National Security Council accepted the deal but warned: "This does not signify the termination of the war. Our hands remain upon the trigger." Negotiations between the US and Iran are set to begin in Islamabad on Friday. (KSAT)
Oil markets are reacting sharply. The EIA had raised gas price forecasts to a peak of $4.30/gallon this month, with Gulf nations cutting an estimated 7.5 million barrels/day of crude production — a historic supply disruption expected to worsen before recovering. (CNN)
Oil prices plunged after Trump pulled back on his threats to widen attacks. (KSAT)
Before the ceasefire, Trump had rejected a 45-day ceasefire proposal as "not good enough," and Iran had demanded a permanent end to the war. (CNN)
Key takeaway for crypto: Geopolitical de-escalation = risk-on sentiment. Watch BTC and oil-correlated assets closely over the next 48 hours.$BTC $ETH $BNB