FRANKFURT (dpa-AFX): The preliminary agreement reached between the United States and Iran significantly moved financial markets early Monday morning. IG Markets recently calculated the Dax indication more than 1% higher than Friday evening's Xetra close. The Euro climbed above $1.16, while gold and silver prices rose sharply. Bitcoin also benefited, with the digital currency rising to just under $66,000.

In contrast, oil prices came under significant pressure ahead of the scheduled reopening this Friday of the Strait of Hormuz, a critical artery for global oil and gas trade. Most recently, the price for a barrel (159 liters) of North Sea Brent crude fell by 4%. Financial markets had already been speculating on an imminent deal during the final two trading days of last week.

Following weeks of negotiations, the U.S. and Iran have reached a preliminary agreement to find a way out of the Iran conflict, according to mediator Pakistan and the U.S. administration. "After intensive talks, we are pleased to announce that a peace agreement between the United States of America and the Islamic Republic of Iran has been reached," Pakistan's Prime Minister Shehbaz Sharif wrote on the platform X. Shortly thereafter, U.S. President Donald Trump also confirmed the conclusion of an agreement with Iran.

Trump wrote on his platform Truth Social that he hereby authorizes the opening of the Strait of Hormuz for toll-free shipping and simultaneously orders the immediate lifting of the U.S. naval blockade against Iranian ports. According to his statements, however, the Strait is not scheduled to open until Friday following the formal signing of the Iran agreement. The delay is attributed to necessary mine clearance operations.

Sharif explained that both sides have pledged an immediate and final cessation of military operations on all fronts, including in Lebanon. According to him, the official signing ceremony is set to take place in Switzerland on Friday. Iranian Deputy Foreign Minister Kazem Gharibabadi also stated, according to the Tasnim news agency, that the text of the framework agreement has been finalized.

No further details regarding the specific contents of the agreement were initially released. However, the framework agreement is only an interim step, albeit a significant one: further critical arrangements in the conflict between the two nations, such as the nuclear dispute, are to be negotiated in detail during subsequent talks./he