Oil prices fell close to five percent on Monday after Washington and Tehran electronically signed a framework agreement to end the three-month war and reopen the Strait of Hormuz, the route through which approximately twenty percent of global crude passes. The drop marked the most significant data point in the energy market for the quarter.

The reaction was immediate. According to [CBS News](https://www.cbsnews.com/news/oil-prices-today-stocks-trump-us-iran-deal/), Brent crude shed 4.8 percent to settle at $83.17, while WTI fell below $80; the Dow Jones rose 469 points, the S&P 500 gained 1.7 percent, and the Nasdaq advanced 3.1 percent, all at record highs. [Al Jazeera](https://www.aljazeera.com/economy/2026/6/15/stock-markets-soar-oil-falls-as-us-iran-confirm-deal-to-end-war) reports that in Asia, the Nikkei rose 5.5 percent and the Kospi 5.7 percent. For Latin America, the signal carries weight on two fronts: international inflationary pressure eases and the energy bill for net importers such as Chile and several Central American countries falls, while Mexico's export crude blend adjusts downward in the short term.

The agreement extends the current ceasefire by sixty days with the aim of a definitive halt in subsequent rounds. The formal signing is scheduled for June 19 in Geneva, with Pakistan hosting the ceremony. The text provides for the toll-free opening of the Strait of Hormuz and the immediate withdrawal of the U.S. naval blockade. Analysts cited by both outlets warned that full logistical recovery of the maritime route will take months; insurers, refiners, and shipowners will need to rebuild confidence and clear potential mines before normalizing full volumes. Brent has accumulated a retreat from over one hundred dollars per barrel at the peak of the conflict.

The June 19 Geneva ceremony and monitoring of commercial flows through Hormuz in the following weeks will be the first tests of the commitment. Regional central banks will read the data as a window to review their rate trajectories with a more contained energy risk, and Latin American oil exporters will adjust their public budgets to lower prices during the second half of the year.

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