U.S. President Donald Trump speaks before signing the proclamation in the Oval Office of the White House on June 11, 2026 in Washington, DC.
Kent Nishimura | AFP | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
The agreement announced over the weekend is the furthest Washington and Tehran have come in the peace process.
However, due to the lack of concrete content and some differences in the claims of both sides, there remains considerable doubt as to whether the agreement can be maintained.
What you need to know today
The United States and Iran have made the most progress yet in efforts to end the war, with US President Donald Trump and mediator Pakistan saying the US and Iran have agreed to a peace deal, expected to be signed in Switzerland on June 19.
The agreement opens the Strait of Hormuz, lifts the U.S. naval blockade, and effectively ends the conflict.
The agreement also reportedly includes the US agreeing not to impose new sanctions on Iran until a final agreement is reached, lifting sanctions on the Islamic Republic, and releasing frozen Iranian assets.
Further negotiations will take place within 60 days to reach a final agreement, while Iran maintains the status quo on its nuclear program.
Some may say that it is simply a return to the situation before the war began.
Iran has already threatened to pull out of the deal on Sunday, when Israel attacked targets in Lebanon.
Former US President Barack Obama said any deal reached was unlikely to be fundamentally different from the 2015 nuclear deal negotiated during his administration, referring to the Joint Comprehensive Plan of Action (JCPOA), which Trump abandoned during his first term.
Nevertheless, investors, especially oil traders, remained optimistic, with international benchmark Brent crude oil down more than 4% to trade at $83.78 per barrel and US West Texas Intermediate down 4.69% to trade at $80.9.
US stock futures were also in positive territory, Asian markets rebounded strongly in early trading, and South Korea’s Kospi rose more than 4%.
The poet Robert Burns said in 1785, “The best-laid plans of mice and men often fail.” But for now, investors are betting that it won’t fail, at least not until the next twist in the story.
And finally…
President Trump heads to G7 summit in France after agreeing to end war with Iran
Fresh off the Iran deal, US President Donald Trump is currently heading to Switzerland for the G7 summit.
When France took control of the G7 in January, President Emmanuel Macron expressed his desire for the group to prioritize reducing inequality and promoting multilateralism while addressing escalating trade and geopolitical tensions.
These priorities may run counter to President Trump’s “America First” policy. Under it, he imposed tariffs, went after other world leaders in person and on social media, and started wars.
— Kevin Breuninger, Megan Cassella
