Reports of U.S.-Iran ceasefire keep markets calm
Unnamed sources say the U.S. and Iran agreed a ceasefire that would reopen the Strait of Hormuz. U.S. stocks rose, oil fell, gold and bitcoin were largely unchanged.
Unnamed sources in Pakistan and Iran reported on Tuesday that the United States and Iran have agreed a ceasefire that would include free navigation through the Strait of Hormuz. Neither U.S. nor Iranian authorities have publicly confirmed an agreement; officials indicated announcements could come later this week.
The report arrives 178 days after military clashes began on Feb. 28, 2026. A ceasefire enacted on June 17 is no longer active. Wargames and intermittent strikes since February have disrupted regional shipping and affected global markets. The Strait of Hormuz carries about 20% of the world’s petroleum consumption.
Financial markets showed cautious reactions on Tuesday. Brent crude fell to $85.95 a barrel and West Texas Intermediate dropped to $81.64. U.S. stock indexes closed higher: the Nasdaq Composite at 26,151.30, the Dow Jones Industrial Average at 53,577.40, the S&P 500 at 7,677.28 and the NYSE Composite at 24,768.65. Gold was quoted at $4,665 per ounce and silver at $68.93.
Bitcoin traded in a narrow range between $78,750 and $79,500, down about 0.4% on the day and up about 21.8% for the week. Its market capitalization stood near $1.583 trillion, roughly 58% of the $2.73 trillion crypto market.
Iran and Oman have discussed a joint, mine-free shipping effort. President Donald Trump posted on Truth Social that the U.S. Navy had removed or detonated all mines in the international waters of the Strait of Hormuz and warned that any vessel placing new mines would be destroyed. He wrote: “I have just been informed by the United States Navy that all mines have been removed and/or detonated from within the International Waters of the Strait of Hormuz. Iran has been notified that any ship or boat placing new mines will be immediately and systematically destroyed.”
U.S. Treasury Secretary Scott Bessent outlined a long bond buyback and described plans for a broad financial campaign targeting Iran as the “single greatest financial offensive ever.” Some market participants on social platforms linked those measures to increased interest in assets outside the dollar settlement system.
Traders awaited official confirmations from U.S. and Iranian authorities before making larger portfolio changes.
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