US, Iran agree ceasefire deal as Trump heads to G7 summit
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 15 June 2026
⏱️ 11 minutes
🧾️ Download transcript
Summary
The leaders of the US and Iran will sign an agreement on Friday to reopen the Strait of Hormuz, and the annual G7 summit kicks off today. SpaceX’s blockbuster IPO tells us a lot about Wall Street’s appetite for tech listings, and the New York Knicks won the NBA championship for the first time since 1973.
Mentioned in this podcast:
Trump says Iran and US agree deal to open Strait of Hormuz and extend ceasefire
Emmanuel Macron and Donald Trump test their bruised bromance at G7 summit
Wall Street digests record fundraising haul as AI race intensifies
SpaceX’s surge on debut makes Elon Musk world’s first trillionaire
New York Knicks’ winning streak should rub off on its owner too
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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show was mixed by Alex Higgins and Kelly Garry. Additional help from Peter Barber, Gavin Kallmann, Michael Lello and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Monday, June 15th, and this is your FT News briefing. |
| 0:10.6 | The U.S. and Iran say they've reached a deal to reopen the Strait of Hormuz and extend a ceasefire, |
| 0:17.1 | just as President Trump heads to France for the annual G7 summit. |
| 0:21.6 | Plus, what does SpaceX's blockbuster stock market debut tell us about an imminent wave of tech IPOs? |
| 0:29.7 | So it is a great barometer of the interest and euphoria that we're seeing around AI. |
| 0:36.7 | I'm Victoria Craig, and here's the news you need to start your day. |
| 0:48.8 | Global oil prices slid 4% to about $84 a barrel at the start of trade today. The drop comes after the U.S. |
| 0:56.5 | and Iran say they've finalized a deal to extend their ceasefire and reopen the Strait of Hormuz. |
| 1:02.8 | Both sides are expected to meet in Switzerland on Friday to officially sign the truce. |
| 1:08.5 | President Trump said the deal would allow the vital waterway to reopen without |
| 1:12.5 | any tolls. He also pledged that the U.S. would remove its naval blockade on Iranian ports immediately. |
| 1:19.9 | If the agreement is implemented, it could allow far more oil to transit through the shipping |
| 1:24.5 | lane than the trickle that's currently getting through. |
| 1:30.6 | Ultimately, that would help ease a global supply crunch. |
| 1:36.2 | Before the war, nearly a fifth of the world's daily crude supplies passed through the strait. |
| 1:48.3 | Aside from negotiations with Tehran, diplomatic efforts of another kind are on Trump's agenda this week. |
| 1:58.7 | He'll join the leaders of France, the UK, Germany, Japan, Italy, and Canada in the French resort town of Evian LeBain for the annual G7 summit, which kicks off today. |
| 2:02.5 | Our Paris Bureau chief Leila Abood is there and joins me to talk about what we can expect from the three-day meeting. Hi, Leila. Hello. So this is the first G7 gathering |
| 2:09.3 | since the U.S., along with Israel, launched the war against Iran back in February. How long of a |
| 2:14.9 | shadow is that conflict likely going to cast over this gathering? |
| 2:18.9 | A very big one, because the French already kind of tore up the schedule to make it much more |
| 2:25.3 | kind of about the war in the Middle East, the economic consequences, and that's going to take up |
... |
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