U.S. President Donald Trump signed a peace deal with Iran and the parties signed a memorandum of understanding halting hostilities, according to multiple outlets. At least six oil tankers, including three Saudi-flagged supertankers, transited the Strait of Hormuz on June 18 while crude prices fell below $74 per barrel. U.S. markets were closed for Juneteenth; Iran's Supreme National Security Council announced gradual traffic increases and a 60-day fee waiver.