West Asia LIVE: Oil prices down more than 4% after U.S.-Iran 'permanent' peace deal

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Trump said the Strait of Hormuz will open on Friday after the official signing of the agreement

Updated - June 15, 2026 08:39 am IST

U.S. President Donald Trump. File

| Photo Credit:

Reuters

June 15, 2026 08:39

Trump celebrates 80th birthday with Iran deal and UFC cage fight at White House

U.S. President Donald Trump marked his 80th birthday on Sunday (June 15, 2026) by hailing an initial agreement to end the war in Iran and staging a once unfathomable cage-fighting show on the storied South Lawn of the White House.

Mr. Trump had been touting the emerging deal for weeks, and last-minute strikes in the conflict had threatened to overshadow the ostentatious UFC mixed martial arts extravaganza — where combatants sealed inside a wire-mesh octagon try to punch, kick, chop and pummel each other into submission.

Trump celebrates 80th birthday with Iran deal and UFC cage fight at White House

Trump's 80th birthday celebration features an Iran deal announcement and a UFC cage fight at the White House, blending politics with spectacle.

June 15, 2026 08:16

Oil and gas supplies could take months to return to normal after Iran deal, energy experts say

High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced on Sunday (June 14, 2026).

It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won’t be seen immediately, they said.

Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began.

- PTI

June 15, 2026 08:12

Hormuz reopening to ease oil supply risks for India

A reopening or normalization of shipping through the Strait of Hormuz would provide significant relief for India, one of the world’s largest crude importers, by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation.

The narrow waterway between Iran and Oman handles roughly a fifth of global oil consumption and serves as the primary export route for major Gulf producers, including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Qatar -- all key energy suppliers to India.

Industry sources and analysts said the reopening and reduction in tensions would likely help stabilize global energy markets and improve the outlook for energy-importing nations such as India.

- PTI

June 15, 2026 07:24

Oil prices plunge, Asia stocks rise after U.S.-Iran deal

Oil prices plunged more than 4% on Monday (June 15, 2026), while Asian stocks soared in early trade after the United States and Iran announced they had reached an agreement to end the conflict in West Asia.

At 0045 GMT, U.S. benchmark West Texas Intermediate was down 4.70% at $80.89 a barrel and North Sea Brent Crude sunk 4.03% to 83.81%.

Meanwhile, Japan’s Nikkei 225 index jumped 4.99% and South Korea’s benchmark Kospi index soared 5.54%.

- AFP

June 15, 2026 07:18

Gold rises 2% after U.S., Iran reach peace deal

Gold rose 2% on Monday (June 15, 2026) after U.S. and Iran officials said they had reached a preliminary ⁠deal to end their conflict, pushing oil prices lower and easing concerns about inflation and higher interest rates.

Spot gold was up 2% at $4,304.11 per ounce, ‌as of 0122 GMT, hitting its highest level since June 9. U.S. gold futures for August delivery rose 2% ‌to $4,325.20.

- Reuters

June 15, 2026 07:16

West Asia war highlights: U.S.-Iran peace deal announced with 'permanent' end to military action

The United States and Iran agreed a peace deal and an “immediate and permanent” end to military operations on all fronts including Lebanon, mediator Pakistan said, in the strongest sign yet that more than three months of war in Middle East is drawing to a close.

“The Deal with the Islamic Republic of Iran is now complete,” U.S. President Donald Trump swiftly confirmed with his own statement on Sunday (June 14, 2026), as he marked his 80th birthday.

Read the updates here

Published - June 15, 2026 07:18 am IST