President Donald Trump on Sunday declared the deal with Iran complete, immediately approving the toll-free reopening of the Strait of Hormuz and lifting the U.S. naval blockade.
Important points:
- President Trump authorized the free opening of the Strait of Hormuz, lifting the U.S. naval blockade on June 14, 2026.
- WTI crude oil fell about 3.2% to $84.88 per barrel due to lower supply risks, while Brent crude oil fell 3.4% to $87.33.
- A formal signing ceremony is scheduled for June 19th in Switzerland, and Bitcoin has surpassed $65,000 in the wake of peace. The major cryptocurrency hit an intraday high of $65,641.
President Trump posted this announcement on Truth Social on June 14, 2026, with the full statement reading: “The agreement with the Islamic Republic of Iran is now complete. Congratulations, everyone! I hereby fully authorize the free opening of the Strait of Hormuz, and at the same time authorize the immediate lifting of the U.S. naval blockade. Ships of the world, start your engines. Let the oil flow!”
Market moves quickly
Oil futures plummeted within hours. West Texas Intermediate crude oil fell about 3.2% on the day, settling at around $84.88 a barrel. Brent crude oil fell about 3.4% to around $87.33 per barrel, its lowest in months. Early in the crisis, Brent crude oil was trading above $100 a barrel as fears of supply disruptions gripped global energy markets.
Bitcoin responded positively. The cryptocurrency traded towards the $65,000 level as broad market sentiment shifted towards risk-on.
BTC has consistently demonstrated sensitivity throughout the conflict, de-escalating it and restoring progress toward peace. Previous detente signals during this crisis were already generating daily gains of around 3%.
how the crisis started
On February 28, 2026, the United States and Israel launched a coordinated attack on Iranian military and nuclear facilities under Operation Epic Fury, and the conflict intensified. Iran closed or severely restricted the Strait of Hormuz while retaliating with missile and drone attacks against Israel, US regional bases, and infrastructure in the Gulf. The strait handles an estimated 20-25% of the world’s seaborne oil trade.
Iran deployed mines, speedboats, drones, and GNSS jamming devices to disrupt the shipments. Dozens of ships were damaged or abandoned. Insurance premiums have soared. Tanker traffic has drastically decreased.
On April 13, 2026, the United States imposed a naval blockade on Iranian ports under CENTCOM, cutting off Iran’s oil export capacity and adding an estimated billions of dollars in lost revenue. Multiple ceasefire attempts, including talks brokered by Pakistan, Qatar, Saudi Arabia and Turkey, collapsed before today’s breakthrough.
trading framework
Iran’s Deputy Foreign Minister Kazem Ghalibabadi confirmed the memorandum on state media. Pakistan Prime Minister Shehbaz Sharif, who served as the lead mediator, said the two parties had agreed to an “immediate and permanent suspension of military operations on all fronts, including Lebanon.”
The official signing ceremony is scheduled for Friday, June 19, 2026 in Switzerland. Reported elements of the deal include the full reopening of Hormuz without tolls, the lifting of the U.S. blockade, and Iran’s commitment to nuclear demilitarization. Demining operations and the handling of enriched uranium will also be taken up in subsequent technical consultations.
What it means for traders
Lower oil prices will ease inflationary pressures, reduce input costs across transportation and manufacturing, and improve the macro backdrop for risk assets. As for cryptocurrencies, the agreement removes a persistent source of geopolitical uncertainty that has weighed on sentiment since late February.
Bitcoin’s behavior during the conflict confirms Bitcoin’s continued sensitivity to macro risk signals. With the lockdown being lifted and Hormuz reopening, traders are keeping an eye on whether the $65,000 level holds as a benchmark for further gains.
The June 19 signing and early implementation steps remain the next important catalyst. That outcome can quickly be reversed if compliance backslides or hostilities are renewed.
