U.S.-Iran Deal Sparks Global Stock Rally

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Luke Vargas· Host0:30

[upbeat music] Here is your morning brief for Thursday, June eighteenth. I'm Luke Vargas for the Wall Street Journal. President Trump is back in the US following a surprise move to ink an agreement to end the Iran war over dinner last night at the G7 Summit in France. US markets appear to be cheering on the news, with stock futures pointing to a rally once trading gets underway and markets in South Korea and Japan notching new highs in earlier trading. Crucially, the deal will lift sanctions on Iranian oil exports. That sent oil prices sliding, with WTI crude trading below seventy-five dollars a barrel and US gasoline prices slipping below four dollars a gallon. Ships have already begun traversing the Strait of Hormuz, including several Iranian oil tankers. Analysts expect Iran to have about eight billion dollars worth of oil sales revenue within two months, and that exports will bring in more than sixty billion dollars in the first year. The prospect of millions of