Indian Shares Set To Rally As Trump Announces Iran Deal

(RTTNews) - Indian shares look set to open on a buoyant note on Monday after the United States and Iran have reached an initial agreement to end their war, lift the U.S. naval blockade on Iranian ports, and reopen the Strait of Hormuz that affects roughly one-fifth of global oil shipment.

The dollar weakened, U.S. Treasury yields fell and Brent crude futures slumped nearly 4 percent to below $84 a barrel following the U.S.-Iran deal announcement.

Asian markets rallied and gold prices were up more than 2 percent at $4,327 an ounce on eased inflation and rate hike worries ahead of a slew of central bank meetings due later in the week.

"Let the oil flow!" U.S. President Donald Trump exclaimed on Sunday and declared that the "great deal" would bring "peace and security to the whole region."

U.S. Vice President JD Vance said that Iran never processing a nuclear weapon was "build into this agreement" and that the U.S. will be able to verify compliance.

Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed that a deal had been reached and said the text would be released following a signing ceremony in Switzerland on Friday.

Iran's Supreme National Security Council stated that "final negotiations will be postponed until after the implementation of the other party's commitments under the memorandum."

As the specific terms of the agreement remain unknown, analysts have warned that the agreement may face implementation risks.