Crude oil futures decline after Trump announces Iran peace deal
Crude oil futures declined by over 4 per cent on Monday morning after US President Donald Trump announced a peace deal with Iran.
At 10.04 am on Monday, August Brent oil futures were at $83.27, down by 4.65 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $80.55, down by 5.10 per cent. June crude oil futures were trading at ₹7632 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹8073, down by 5.46 per cent, and July futures were trading at ₹7546 against the previous close of ₹7968, down by 5.30 per cent.
In a post on the social media platform Truth Social, Trump said, “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”
In another post, he said, “This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace. With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!”
Quoting Iran’s Deputy Foreign Minister, Kazem Gharibabadi, a Reuters report said a more expansive peace agreement would be negotiated during a 60-day ceasefire period.
June natural gas futures were trading at ₹289.90 on MCX during the initial hour of trading on Monday against the previous close of ₹296.70, down by 2.29 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), June jeera contracts were trading at ₹19635 in the initial hour of trading on Monday against the previous close of ₹19360, up by 1.42 per cent.
June dhaniya futures were trading at ₹13094 on NCDEX in the initial hour of trading on Monday against the previous close of ₹12884, up by 1.63 per cent.
Published on June 15, 2026
