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June 18, 2026

US and Iran Finalize Agreement to Revive Oil Trade and Reopen Strait of Hormuz

  • The US and Iran have finalized a 14-point agreement allowing Iran to resume oil sales, potentially generating $60 billion annually.
  • The deal reopens the Strait of Hormuz without tolls for two months and restarts discussions on Iran's nuclear program, but does not secure the release of U.S. citizens held in Iran.
  • Public sentiment in the U.S. remains largely negative regarding President Trump's handling of Iran, with a majority disapproving of his approach.