Trump Cancels Further U.S. Strikes On Iran, Says War Is ‘Ended’…

President Trump announced Thursday that he had canceled further U.S. military strikes on Iran and declared the conflict between the two nations has concluded.

Trump made the announcement during a campaign rally for Georgia Lt. Governor Burt Jones, stating that Iran had agreed to abandon its nuclear weapons program. “I don’t know if you heard, but we ended the war with Iran today,” Trump said, calling the nuclear agreement “95 percent” of the deal’s purpose.

What Happened

Trump said a formal agreement would be signed in Switzerland following discussions with multiple regional partners and allies. The U.S. Navy blockade of the Strait of Hormuz would remain in effect until the deal is finalized, Trump indicated.

In a statement posted to Truth Social, Trump confirmed he had canceled scheduled military strikes. He listed multiple countries as parties to the agreement, including Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt.

Netanyahu’s office confirmed the Israeli prime minister had spoken with Trump about the developing agreement. While Israel is not a direct negotiator, Netanyahu welcomed Trump’s commitment to ensuring strict restrictions on Iran’s nuclear capabilities and other measures to address regional destabilization.

The Reaction

Financial markets responded positively Friday to news of the potential diplomatic breakthrough. European stocks surged, with the Stoxx 600 climbing 1.8%, while most major indexes gained approximately 2% in morning trading.

Energy markets also shifted as traders priced in reduced geopolitical risk. U.S. crude oil futures for July delivery fell 1.61%, while August Brent crude futures dropped 1.75%, according to CNBC.

What This Means

The Strait of Hormuz remains a critical global chokepoint, with roughly 25% of the world’s seaborne oil shipments and about 20% of global liquefied natural gas exports passing through the narrow waterway. Any easing of tensions in the region could have broad economic implications.

Trump had authorized military strikes earlier in the week targeting Iranian military infrastructure after failed negotiations. U.S. Central Command launched additional self-defense strikes Thursday at 5:15 p.m. Eastern Time at the direction of the president.

This story has been updated. CNN’s Pentagon and International teams contributed to this report.