Pakistani Prime Minister Shehbaz Sharif announced on June 12 that the United States and Iran have reached an agreed-upon text for a peace deal framework, potentially ending a conflict that has stretched beyond 100 days and rattled global markets from oil to crypto.

Iranian Foreign Minister Abbas Araghchi echoed the optimism, stating that peace has never been closer. The full details of the agreement are expected to be made public soon.

A conflict that reshaped markets

The 2026 Iran war began on February 28, with military engagements from the US and Israel against Iran quickly escalating into a regional crisis. The most consequential economic fallout came from the closure of the Strait of Hormuz, the narrow waterway…