BREAKING: President Trump stated that Iran’s Supreme Leader has approved the agreement between the U.S. and Iran, and the signing will take place “soon.”
Details of the agreement according to President Trump:
1. The U.S. naval blockade will be lifted once the agreement is signed
2. A Memorandum of Understanding has been approved by “all parties in Iran”
3. U.S. military operations on Kharg Island are now “no longer an option”
4. An agreement to reopen the Strait of Hormuz is officially expected to be reached by Saturday or Monday at the latest
5. Trump declined to set a deadline for the agreement, calling Iran “rational and confident” that a deal will be reached
Key Points
• U.S. oil prices continue to decline following the news.
• If this actually materializes, oil prices could potentially weaken toward pre-Iran war levels.
• Daily Chart: We still have an unmet gap target in the $70–$68 range. The nearest current target is the $79 EMA200 area.
