US President Donald Trump announced tonight that he has canceled the planned US airstrikes and bombing orders against Iran. In his statement, Trump said that the agreement being worked on as part of negotiations between the US and Iran has been approved by both parties, both in principle and in all its details.
Trump stated, “As President of the United States, I have canceled the planned attacks and bombardments against Iran tonight.” Adding that the process had progressed significantly, Trump said the agreement was in its final stages and the location and date of the signing ceremony would be announced shortly.
However, Trump stated that the naval blockade against Iran would remain fully in effect until the agreement is formally completed.
Trump’s remarks increased expectations that tensions between the US and Iran could ease, and this had a swift impact on the markets. Following the announcement, oil prices fell sharply, giving back a significant portion of their intraday gains.
*This is not investment advice.