Donald Trump said the United States and Iran could sign an interim agreement on June 14, with the Strait of Hormuz reopening to international shipping immediately afterward. He framed the deal as a step toward ending the conflict and easing pressure around one of the world’s most important oil routes.

Still, the agreement should not be treated as finalized. Reuters reported that Iran has not confirmed the exact signing date and has instead suggested that a deal could emerge in the coming days. That makes Trump’s announcement a strong political signal, but not yet a completed diplomatic outcome.

According to Axios, the draft framework resembles a memorandum of understanding. It could extend the ceasefire, reopen the Strait of Hormuz and start a new phase of talks on Iran’s nuclear program. Key unresolved issues include highly enriched uranium, sanctions relief and access to frozen Iranian assets.

For markets, the Strait of Hormuz is the central issue. A large share of Gulf oil exports moves through the route, so even the expectation of reopening can reduce the geopolitical risk premium in energy prices. But if the timing slips or the nuclear talks stall, oil-market volatility could return quickly.