U.S. Oil Plunges 5%, Dow Hits Record High as U.S.-Iran Agreement Reached

According to official statements, the U.S. and Iran reached an agreement on June 15, driving major market shifts. Crude oil prices fell 5%, the Dow Jones hit a record high, semiconductor stocks led gains, and gold extended a three-day rally.

U.S. Vice President stated the Strait of Hormuz will remain "open and free" long-term, while Iran indicated it will charge for shipping services. Nuclear negotiations and sanctions relief are set to begin within 60 days, though G7 allies expressed skepticism about near-term reopening timelines.