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Trump is playing with economic fire by calling the peace deal with Iran 'over'
watchlist :: 4hrs ago :: source - cnn business
By David Goldman
President
Donald Trump during a meeting with NATO Secretary General Mark Rutte at
the NATO summit in Ankara, Turkey, Wednesday, July 8, 2026. Filip Singer/Pool EPA/AP
Three weeks of fragile peace bought President Donald Trump some time and leverage over Iran. But not too much.
After Trump signed the Memorandum of Understanding with Iran on June 18, oil prices tumbled, sinking below pre-war levels by last week. The oil market cheered as the Strait of Hormuz reopened somewhat, and crude started gradually flowing out of the Persian Gulf after getting stuck there for months. Gas prices have been slowly falling back down to Earth, too.
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