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Globe/AP say ConocoPhillips sees Iranian deal reached

2026-06-15 08:08 ET - In the News

See In the News (C-ZCOP) ConocoPhillips (COP) BMO CDR (CAD Hedged)

The Globe and Mail reports in its Monday edition that the United States and Iran have reached an initial agreement to end their war and reopen the Strait of Hormuz. An Associated Press dispatch to The Globe says that while details are pending, Iran said implementation would begin after a signing set for Friday in Switzerland. Israel, which started the war with the U.S. on Feb. 28, has expressed skepticism about the negotiations. Despite ongoing talks, the announcements brought a sense of relief. "Congratulations to all!" President Donald Trump announced, authorizing the toll-free opening of the strait and the removal of the U.S. naval blockade in retaliation for Iran's control over the area. However, he later clarified that the strait would not open until Friday's signing. The U.S. also indicated it would ease the blockade on Iranian ports and relax sanctions to help Iran sell more oil and strengthen its economy. Iran's deputy foreign minister, Kazem Gharibabadi, confirmed the agreement on state television but said Iran would not start implementing it until it was signed on Friday. He said the deal followed talks with Qatar, another mediator. It is not clear who from Iran will be signing the deal on Friday.

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