US and Iran sign interim deal: 60-day ceasefire extension, Hormuz reopening

BRENT CL

The US and Iran signed an interim memorandum that extends the April ceasefire by 60 days and calls for a full reopening of the Strait of Hormuz. The US agreed to lift its blockade of Iranian ports and waive some sanctions, letting Iran sell oil on the global market. ING said Brent fell to its lowest level since early March after the signing.

Ceasefire extended by 60 days
Hormuz to reopen without toll; US blockade of Iranian ports lifted
US waives some sanctions, allowing Iranian oil sales
Brent fell to its lowest since early March (ING)

BRENT around the story · hourly24 h reaction ▲ 2.91%

Moves this explains

TSM+5.68%Jun 17 · TSM rose 5.68% as chip stocks led a broad rally: MU +6.80%, INTC +7.82%, AVGO +3.19% and AMD +3.02%, with QQQ +1.36%. Reports tie the move to the US-Iran interim deal extending the ceasefire by 60 days; reports disagree on whether the deal was announced June 14-15 or June 18.

Source

Engine (terms attributed to Reuters)

Jun 18, 2026

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