On June 12, Trump stated, “We’ve just clinched a major war and peace agreement with Iran. The final deal could wrap up in the next few days, and the signing might happen in Europe. The Strait of Hormuz will open immediately after we ink the agreement. We could sign the Iran deal as soon as this weekend, with Vice President Vance on hand.” Trump also noted, “For this Iran agreement, I’ve learned Iran’s Supreme Leader has greenlit it. Once the deal is signed, the U.S. will lift the associated sanctions.”

On June 12, the Chicago Mercantile Exchange (CME) announced that after securing regulatory approval, it will offer 24/7 trading for new, smaller-sized crude oil and gold contracts. The new crude oil contract will be one-tenth the size of CME’s existing Micro WTI Crude Oil futures contract and is set to debut on August 30. Trading for the exchange’s current 1-ounce Gold futures contract will switch to 24/7 operation starting July 26. Derek Sammann, CME Group’s Global Head of Commodity Markets, stated: “Amid geopolitical uncertainty, we’re offering properly sized, 24/7 accessible regulated products that let traders manage their risk exposure at any time news breaks.”

June 12 (Fars News Agency) — The draft agreement proposed by Iran has been accepted by the U.S., making it highly probable that Tehran will grant its approval. However, Iran has not yet submitted a final response.

June 12 (Axios) — Former President Donald Trump has repeatedly claimed a U.S.-Iran agreement was imminent, a assertion Tehran has not yet confirmed, Axios reports. However, three sources familiar with the talks said key disagreements were resolved during Wednesday’s meeting between Iranian officials and Qatari mediators. Negotiations in Tehran ran late into Wednesday night, as Qatari envoy Ali Shamkhani and Iranian Foreign Minister Abbas Araghchi worked to bridge remaining gaps between the U.S. and Iran. Both sides — the Qatari and Iranian — expressed confidence Wednesday that they had finalized a text the U.S. would accept. Progress has narrowed rifts on three core issues: the mechanism for unfreezing Iranian assets (Tehran’s top priority), arrangements for reopening the Strait of Hormuz during a 60-day ceasefire, and talks on Iran’s nuclear program within that ceasefire period. Iranian officials told multiple countries on Thursday that the Tehran talks produced a preliminary agreem

June 12: Per Bitget data, the three major U.S. stock indexes expanded their intraday gains: the Nasdaq rose 2%, the Dow Jones added 1.6%, and the S&P 500 gained 1.3%. On the news front, President Trump announced he was scrapping a planned strike against Iran tonight, and will soon unveil the time and location for the signing of the agreement.

On June 12, markets have pushed their bets on the Federal Reserve’s next interest rate hike from this December to January of next year, and no longer fully price in the likelihood of a rate hike occurring this year. (Wall Street 10)