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08:22
Oil Prices Fall, Dollar Steady As US-Iran Deal Eases Supply Concerns
Oil prices fell on June 18 as investors weighed the interim peace agreement between the United States and Iran which could reduce risks to global energy supplies, while the dollar was little changed against major currencies.
US crude dropped 1.25 percent to $75.83 a barrel and Brent crude fell 1.4 percent to $78.41, continuing declines after US President Donald Trump and Iranian President Masud Pezeshkian signed a deal aimed at ending months of conflict in the Middle East.
Recent falls in oil prices have eased concerns about a global economic slowdown, particularly in energy-importing economies.
The International Energy Agency said the oil market could move into a significant supply surplus by 2027 following the reopening of the Strait of Hormuz.
Currency markets were steadier.
The dollar index, which measures the US currency against a basket of major peers, slipped 0.03 percent to 100.32. The euro rose 0.1 percent to $1.1511, while the dollar edged up against the Japanese yen to 160.65, near its highest level since July 2024.
With reporting by ReutersShare
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06:41
US, Iran Sign Initial Deal To End Conflict
The US and Iranian presidents have signed a memorandum of understanding, marking an initial peace agreement intended to end the conflict in the Middle East and taking effect immediately.
US President Donald Trump signed the memorandum of understanding on June 17 during a candlelit dinner at the Palace of Versailles following a Group of Seven (G7) summit.
A video shared by the White House and French President Emmanuel Macron on X shows Trump signing the document.
"This was not easy," Trump said as he signed the agreement, while host French President Emmanuel Macron and other guests applauded.
"This agreement paves the way for lasting peace and allows the reopening of the Strait of Hormuz," Macron said on X.
Iran's state news agency, IRNA, released photos showing Iranian President Masud Pezeshkian signing the agreement between Iran and the United States.
In the photos, the Iranian president holds the pages of the agreement up to the cameras, with both his signature and that of the US president visible.
Pakistani Prime Minister Shehbaz Sharif, whose government helped mediate the agreement, announced on X that the deal would take effect immediately.
With reporting by AFP and Reuters
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00:10
We are now closing the live blog for the day. We'll be back at 7:30 a.m. Central European time to cover the latest events across the Middle East.
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21:29
17.6.2026
US Officials Disclose Details Of Framework Deal With Iran
US President Donald Trump (left) talks to reporters alongside US Secretary of State Marco Rubio during a closing press conference at the G7 summit in Evian, France, on June 17.
WASHINGTON -- Senior US officials have disclosed details of the framework deal with Iran that is set to be officially signed during a ceremony in Switzerland on June 19.
The memorandum of understanding envisages ending the fighting on all fronts, including in Lebanon, reopening the Strait of Hormuz to commercial traffic, and ending the US naval blockade on Iran, according to the text read out on a background call with reporters on June 17.
Upon officially signing the deal, the two sides commit to agreeing to a final settlement in 60 days that includes limits to Irans nuclear program and the removal of US sanctions on the Islamic republic, the US officials said.
This is fundamentally an agreement that allows us to open the Strait of Hormuz immediately, commits the Iranians to destroying the nuclear stockpile, and then gives us a dial, one senior US official said.
The accord, which has already been signed electronically, marks the most sweeping US-Iran diplomatic breakthrough in years and comes after months of war, maritime disruption, and back-channel negotiations involving regional mediators.
Read morehere
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20:12
17.6.2026
Iran Says Trump And Pezeshkian May Sign Peace Deal
Iranian Foreign Ministry spokesman Esmaeil Baqaei (file photo)
Iran's Foreign Ministry said US President Donald Trump and his Iranian counterpart, Masud Pezeshkian have signed the memorandum of understanding virtually as "a better option."
Earlier,the Iranian ministry said it was considering a plan for US President Donald Trump and his Iranian counterpart, Masud Pezeshkian, to sign the framework deal in Switzerland.
So far, our plans for the Geneva meeting have not changed, said ministry spokesman Esmaeil Baqaei on June 17. Regarding the signing of the memorandum of understanding, one idea is that it be done by the presidents of the two countries, which is currently under review.
Earlier, Trump told reporters at a G7 press conference in France that he might stick around for the signing ceremony.
The ceremony is set to take place in Switzerland on June 19, although Trump said it could happen on June 18.
US and Iranian officials had previously said US Vice President JD Vance and Irans parliament speaker and top negotiator, Mohammad Baqer Qalibaf, would sign the agreement.
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19:48
17.6.2026
US Achieved 'Regime Change' In Iran, Says Trump
US President Donald Trump addresses the media during a closing press conference at the G7 summit in Evian, France, on June 17.
US President Donald Trump told reporters at the G7 meeting in France on June 17 that the United States had achieved regime change in Iran.
You talk about regime change, nobody will say that, but I guess it is, he said. One set of leaders is all gone, the second set of leaders is all gone. Their third set of leaders is a little bit gone... I think that's regime change.
Trump added that Iran now has a new group of leaders who are smarter and far less radicalized, saying he has achieved regime change.
Trump also said the framework deal with Iran will be signed shortly. Tomorrow, maybe the next day, he said at the G7 news conference, fueling uncertainty over the date.
Earlier, Trump said the agreement would be formally signed during a ceremony in Switzerland on June 19.
He added that a copy of the deal was shared with Israel, which he said was a good partner, despite expressing frustration with Israeli Prime Minister Benjamin Netanyahu in recent days.
Trump called him a good man but said he gets a little excited sometimes. Netanyahu could have a little softer touch, Trump said, adding: You dont have to knock down a building every time someone walks into it thats from Hezbollah.
During the news conference, Trump rejected US media reports that Iran could be given access to a reconstruction fund worth $300 billion as part of the deal to end the war.
We dont give them money, he said. We dont give them any of that.
He said negotiations over a final settlement will cover not just Irans nuclear program but non-nuclear issues, including Tehrans conventional ballistic missiles.
Trump said he was advised to prevent Iran from having any missiles, but he said, it doesnt work that way.
They have to have some because other people have some, youve got to have some, Trump added.
The US president also told reporters that he was prepared to bomb the hell out of Iran if Tehran violated the agreement.
If they are not behaving, they will be hit again, he said. But he added: They don't want to get bombed, they don't want to get hit.
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16:54
17.6.2026
First Iranian Crude Exports In 2 Months Leave Hormuz
The first shipments of Iranian crude oil in two months have departed the Strait of Hormuz, according to ship-monitoring firm TankerTrackers.com. This comes just days before senior Iranian and US officials are expected to sign a preliminary agreement in Switzerland aimed at ending the war. Using satellite imagery and shipping data, TankerTrackers said it had verified Iran's first crude oil exports since a US naval blockade was imposed two months ago.
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