US-Iran Peace Memorandum Nears Signing
Analysis based on 6 articles · First reported Jun 11, 2026 · Last updated Jun 12, 2026
Global shares rallied and oil prices slipped on hopes of a peace deal between the United States and Iran, signaling an end to a tense period of escalation. The reopening of the Strait of Hormuz is expected to ease concerns over energy prices, which have been a political liability for the White House.
A peace memorandum between the United States and Iran to halt the war in the Gulf could be signed as soon as Sunday in Switzerland — Geneva. The deal aims to end hostilities, with Iran demanding sanctions relief, unfreezing of its assets, and a cessation of fighting in Lebanon involving Hezbollah. The United States seeks the reopening of the Strait of Hormuz. US President Donald Trump announced a 'great settlement,' leading to a rally in global shares and a drop in oil prices. However, Israel, which has been battling Hezbollah, is not a party to the negotiations and finds curbs on fighting in Lebanon difficult to accept. Tensions remain high around the Strait of Hormuz, with US forces shooting down Iranian drones and Iran stopping a tanker.
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