President\u00a0Donald Trump<\/a>\u00a0on Thursday had claimed that the U.S. “just made a great settlement of the war with Iran,” subject to the “finalization of documents.”<\/p>\n He said in the Oval Office that the Strait of Hormuz would be reopened<\/a> as soon as a deal is signed.<\/p>\n Israel has yet to comment on the latest draft memorandum of understanding shared by Iranian state media on Friday. <\/p>\n Trump said Thursday that he spoke with Israeli Prime Minister Benjamin Netanyahu and other regional leaders about the potential memorandum or understanding with Iran.<\/p>\n Netanyahu’s office confirmed the conversation later Thursday. It said in a statement that, although Israel is not part of the negotiation with Iran, the prime minister appreciated Trump’s “commitment that the final agreement at the conclusion of the negotiations” will include various restrictions on Iran’s nuclear capabilities and other behaviors. <\/p>\n About 25% of the world’s seaborne oil trade and 20% of global LNG passes through the Strait, the vital oil-shipping route<\/a> that has become a major chokepoint during the war.<\/p>\n Global stocks surged<\/a> on Friday on hopes a peace deal would be reached. European shares jumped, with the pan-European\u00a0Stoxx 600<\/a>\u00a0gaining 1.8% while most major bourses added around 2% in morning trade.<\/p>\n Oil prices tumbled, with U.S. crude oil<\/a>\u00a0futures for July delivery falling 1.61%. August futures for Brent<\/a>, the international benchmark,\u00a0lost 1.75%.<\/p>\n![\"Oil](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/06\/108320856-1781254228598-1781253782-46496917660-hd.jpg\")
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