Trump withholds 'final determination' on 60-day Iran truce, leaving a binary weekend for oil and risk assets
President Donald Trump ended a Friday-evening meeting in the White House Situation Room without announcing his 'final determination' on whether to approve a deal to pause the three-month-old Iran war, CNBC reported, leav.
At a glance
- Trump ended a Friday May 29 Situation Room meeting without announcing his 'final determination' on approving the Iran deal, despite earlier saying he would decide at that meeting.
- U.S. and Iranian negotiators agreed a 60-day memorandum of understanding extending the ceasefire, reopening the Strait of Hormuz and allowing Iran to sell oil freely during nuclear negotiations; Tehran has reportedly signed off.
- About $24 billion in frozen Iranian assets could be released under the deal, with half potentially unlocked at announcement; Iran estimates nearly $10 billion in oil revenue over the 60-day period.
- On Saturday May 30, IRGC General Rezaei warned Iran would attack the U.S. naval blockade if Trump betrayed the negotiations, while White House deputy chief of staff Stephen Miller said Iran had made significant concessions.
- Oil has fallen about 20% from its 2026 peak on ceasefire optimism, and the S&P 500 closed Friday at a record 7,580.06.
VERDICT — CONFIRMED
President Donald Trump ended a Friday-evening meeting in the White House Situation Room without announcing his 'final determination' on whether to approve a deal to pause the three-month-old Iran war, CNBC reported, leaving markets heading into the weekend with the 60-day truce extension in limbo. U.S. and Iranian negotiators have agreed on a memorandum of understanding under which the ceasefire would be extended for 60 days, the Strait of Hormuz would be reopened and Iran would be able to sell oil freely while negotiations are held on curbing its nuclear program; Tehran has reportedly signed off.
Al Jazeera reported roughly $24 billion in frozen Iranian assets could be released under the deal, with half potentially unlocked when it is first announced, and Iran estimates sanctions-free oil sales alone could generate nearly $10 billion over the 60-day window. On Saturday, White House deputy chief of staff Stephen Miller said Tehran had made significant concessions, including reopening the strait, while IRGC General Rezaei warned Iran would be willing to attack the U.S. naval blockade if Trump betrayed the negotiations.
Markets have already priced substantial progress: oil has dropped about 20% from its 2026 peak on ceasefire optimism, and U.S. equities closed Friday at record highs, with the S&P 500 at 7,580.06.
Why it matters
with a single signature standing between a Hormuz reopening and renewed escalation, weekend headline risk into Monday's open is binary for oil, rates and risk assets.
Key facts on file
- Trump ended a Friday May 29 Situation Room meeting without announcing his 'final determination' on approving the Iran deal, despite earlier saying he would decide at that meeting.
- U.S. and Iranian negotiators agreed a 60-day memorandum of understanding extending the ceasefire, reopening the Strait of Hormuz and allowing Iran to sell oil freely during nuclear negotiations; Tehran has reportedly signed off.
- About $24 billion in frozen Iranian assets could be released under the deal, with half potentially unlocked at announcement; Iran estimates nearly $10 billion in oil revenue over the 60-day period.
- On Saturday May 30, IRGC General Rezaei warned Iran would attack the U.S. naval blockade if Trump betrayed the negotiations, while White House deputy chief of staff Stephen Miller said Iran had made significant concessions.
- Oil has fallen about 20% from its 2026 peak on ceasefire optimism, and the S&P 500 closed Friday at a record 7,580.06.
