Pakistan PM confirms US and Iran reach final deal text as Trump disputes reports

Pakistan’s Prime Minister has confirmed that the United States and Iran have reached a final, agreed-upon text for a deal. The statement marks a significant development in diplomatic efforts following heightened tensions in the region, including previous Iranian threats to target vessels in the Strait of Hormuz after US strikes.

The confirmation comes shortly after President Donald Trump posted on Truth Social, asserting that recent public reporting regarding the agreement does not accurately reflect the written terms. Trump explicitly stated that the media coverage has "NOTHING to do with the terms that were agreed to, in writing," creating a divergence between official assertions and public narratives.

While the specific contents of the final text have not been disclosed, the deal is reportedly centred on an interim peace arrangement concerning the Strait of Hormuz. The confirmation of a written agreement has provided a focal point for market participants, who are closely monitoring the potential for de-escalation in one of the world’s most critical energy chokepoints.

Financial markets responded to the shifting geopolitical landscape with immediate volatility. US equities rose on the day, driven by hopes of an interim peace deal, while oil prices fell as traders priced in the reduced risk of supply disruptions. These movements occurred concurrently with the significant market debut of SpaceX, whose shares surged on its Nasdaq listing.

The diplomatic developments unfold against a backdrop of broader political friction. Tensions remain high regarding the participation of the Iranian national football team in the upcoming World Cup in Los Angeles. Following suggestions from the Trump administration that their presence was not appropriate, Team Melli has established its base in Mexico, with plans to travel to the United States solely for group stage matches.