Crude oil futures drop after Trump promises an Iran deal will be signed Friday
Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.
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Crude oil futures drop after Trump promises an Iran deal will be signed Friday June 14, 20269:33 PM ET Camila Domonoske A ship remains anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Majid Saeedi/Getty Images Europe hide caption toggle caption Majid Saeedi/Getty Images Europe Stay up to date with our Up First newsletter, sent every weekday morning. Crude oil prices sank on Sunday night after President Trump posted on social media that a deal to end the war with Iran was "complete." Middle East conflict The U.S. and Iran announce a deal to end the war Oil futures markets promptly dropped 4%, after markets reopened for trading following their typical weekend break.
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