US-Iran Peace Deal Sends Oil to a March Low and Asian Markets Surging

[00:00:01][music and bell] >> This is a podcast from The Business Times.

[00:00:05]>> Good morning. It's Monday, June 15th, [music] 2026. From The Business Times newsdesk, here are your headlines. What you need to know. The US and Iran announced a peace deal. President Trump says it is complete, >> [music] >> ordering the naval blockade lifted and the Strait of Hormuz reopened.

[00:00:22]Signing is set for June 19th in Switzerland. Oil falls to its lowest since March. [music] Gold rises 2%. The Straits Times index opens sharply higher. A Lowy Institute report says China's [music] missile capability to strike Australia is growing. In world news, the US and Iran announced overnight that they have reached [music] a deal to end their war.

[00:00:40]President Trump wrote on Truth Social that the quote, "Deal with the Islamic Republic of Iran is now complete." And said he [music] was authorizing the toll-free opening of the Strait of Hormuz and the immediate removal of the US naval blockade.

[00:00:56]Pakistani Prime [music] Minister Shehbaz Sharif, whose country mediated the talks, said the agreement includes the immediate and permanent end of military operations [music] on all fronts, including Lebanon.

[00:01:08]The signing ceremony is scheduled for June [music] 19th in Switzerland.

[00:01:13]Some elements, including the fate of Iran's nuclear program, remain subject to further negotiation over the next 60 [music] days.

[00:01:21]US Defense Secretary Pete Hegseth said the reopening of the Strait is quote, "Performance-based [music] and could take up to 30 days to fully take effect." UN Secretary-General Antonio Guterres >> [music] >> welcomed the announcement as a critical step toward peaceful resolution.

[00:01:38]>> [music] >> The E4 nations, Britain, France, Germany, and Italy, said in a joint statement that Iran must [music] never acquire a nuclear weapon. And that they stand ready to work with the US, Iran, and the IAA toward that goal.

[00:01:52]Australian Prime [music] Minister Anthony Albanese welcomed the deal, calling for continued restraint to prevent further escalation.

[00:01:59]However, Israeli strikes in Lebanon overnight are reported to be testing the durability of the agreement even as it is announced. In Singapore, from today, class 3 and 3A driving license holders can drive electric light goods vehicles and electric small buses with an unladen [music] weight of up to 3,000 kg, up from the previous cap of 2,500.

[00:02:21]The traffic police [music] said the change supports Singapore's commitment to a full transition to clean energy vehicles by 2040. In the region, [music] Taiwan's government launched a website on Sunday inviting Chinese nationals to report [music] intelligence tips, offering what it describes as a secure channel for those it says are increasingly dissatisfied [music] with Beijing's system. A new report from the Lowy Institute, an Australian think tank, said China is capable of a direct missile strike [music] on Australia, with the threat growing as Beijing expands its long-range and hypersonic missile arsenal.

[00:02:54]The report identified a new intermediate-range ballistic missile, the DF-27, [music] as a key emerging threat with China's strike capability against Australia expected [music] to grow over the next decade. In companies and markets, markets reacted sharply to the Iran deal news.

[00:03:09]Oil fell to its lowest level since March.

[00:03:12]Brent crude dropped [music] 4.1% to $83.75 a barrel.

[00:03:18]West Texas Intermediate fell 4.7% to $80.87. [music] Both contracts having already fallen more than 3% on Friday. Gold rose 2% to 4,304 [music] US dollars an ounce, its highest level since June 9th, as easing inflation concerns lifted the metal alongside falling oil [music] prices. The Straits Times Index opened 1.2% higher at 5,085 points, with winners outnumbering losers 219 to 70. [music] Jardine Matheson Holdings was the top gainer on the SGX, up 6.8% For updates throughout your day, visit bt.sg [music] and don't forget to check in with our wrap podcast, Market Focus daily at 6:00 [music] this evening for the day's market movements.

[00:04:03]>> This is a podcast by The Business Times.

[00:04:06]Find more BT podcasts at businesstimes.com.sg/podcasts or wherever you get your podcasts.

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