Global Markets Rally as World Leaders Hail Historic US-Iran Peace Deal

By Tgnews Reporter

World leaders have welcomed a landmark peace agreement between the United States and Iran aimed at ending months of hostilities that have claimed hundreds of lives and disrupted the global economy, while international oil prices recorded a sharp decline amid hopes of renewed stability.

Both Washington and Tehran confirmed the agreement on Sunday, with a formal signing ceremony scheduled to take place later this week in Switzerland.

Announcing the breakthrough, U.S. President Donald Trump described the development as a major diplomatic success.

“The deal with the Islamic Republic of Iran is now complete. Congratulations to all,” Trump wrote on his Truth Social platform, adding that he had authorised the reopening of the Strait of Hormuz and the immediate lifting of the U.S. naval blockade.

The announcement triggered a positive response in global energy markets. Brent crude prices fell from $87 per barrel to $83, while West Texas Intermediate (WTI) crude dropped to $80 per barrel as traders anticipated increased oil flows through the strategically important Strait of Hormuz, a route that handles more than 20 per cent of the world’s fuel supplies.

Prime Minister Shehbaz Sharif confirmed that an official peace-signing ceremony would be held on June 19 in Switzerland, describing the agreement as a major diplomatic achievement.

Leaders across Europe and the Middle East quickly praised the development.

French President Emmanuel Macron said the agreement was the product of extensive diplomatic efforts by several international partners and called for its swift implementation.

Macron stressed the importance of reopening the Strait of Hormuz without restrictions, noting that uninterrupted maritime trade was essential for regional stability and the global economy. He also expressed hope that the agreement would pave the way for broader negotiations on regional security, including concerns surrounding Iran’s nuclear and ballistic missile programmes.

Qatar’s Foreign Ministry also welcomed the breakthrough, describing it as a significant step toward ending military operations and promoting long-term stability in the region. The Gulf nation commended Pakistan’s mediation efforts and reaffirmed its commitment to dialogue and peaceful conflict resolution.

German Chancellor Friedrich Merz described the agreement as a diplomatic breakthrough capable of revitalising the global economy and enhancing security across the Middle East.

Similarly, Turkish President Recep Tayyip Erdoğan hailed the accord as a crucial development for peace and stability in the region.

He urged all parties to avoid provocative actions ahead of the formal signing ceremony and warned against attempts to sabotage the agreement. Erdogan also praised Pakistan’s mediation role and acknowledged the support provided by Qatar and Saudi Arabia throughout the negotiation process.

“As Türkiye, we will continue to support all efforts aimed at establishing peace, stability and tranquility in our region and contribute to lasting solutions based on diplomacy and international law,” he said.

The agreement is being viewed as one of the most significant diplomatic developments in recent years, raising hopes for reduced tensions in the Middle East, improved global energy security, and renewed economic confidence worldwide.