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Is US-Iran Conflict Officially Over? Trump Says Iran Deal to Be Signed in Europe This Weekend, Two Major Oil Prices Fall Over 4%

TradingKey

AuthorAndy Chen

Jun 11, 2026 7:46 PM

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US-Iran geopolitical tensions have significantly eased following President Trump's announcement of a multilateral consensus agreement with Iran's supreme leadership. This development led to a sharp decline in crude oil futures, with WTI dropping over 4% to $86.20 and Brent also falling over 4% to $88.66. Further details suggest a final agreement might be reached this weekend in Europe, potentially reopening the Strait of Hormuz. Vice President J.D. Vance will represent the U.S. at the signing ceremony. Iran's Fars News Agency indicates a high probability of Iranian approval, as the U.S. has accepted Iran's proposed text.

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TradingKey - US-Iran geopolitical tensions have cooled sharply. Trump just stated on social media that Iran's supreme leadership has approved a draft multilateral consensus agreement, causing both major crude oil futures to plunge.

As a result, the two major crude oil futures plummeted in short-term trading. As of press time, WTI crude oil futures fell over 4% to $86.20, while Brent crude oil futures also dropped over 4% to $88.66.

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[Source: FutuBull]

Subsequently, Trump released more details regarding the signing of the peace agreement with Iran.

Latest reports indicate that U.S. President Trump stated a final agreement on the Iran issue may be reached in the coming days, with the signing ceremony planned for this weekend in Europe. The Strait of Hormuz is expected to fully reopen immediately following the signing. As Trump is unable to attend in person, Vice President J.D. Vance will represent the U.S. at the ceremony.

According to Iran's Fars News Agency, since the United States has accepted the text proposed by Iran, there is a high probability that the text will be approved by the Iranian side.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

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