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U.S. and Iran reach tentative deal to reopen oil shipping routes
Jun 16, 2026, 2:00 AM20
(Update: Jun 18, 2026, 6:13 PM)
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U.S. and Iran reach tentative deal to reopen oil shipping routes
- The U.S. and Iran have reached a memorandum of understanding to end their ongoing conflict.
- The deal includes provisions to reopen the Strait of Hormuz, which has been closed to commercial traffic for months.
- Analysts predict that normalization of energy markets may not occur until summer 2027.
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2026 All rights reserved