The war in Iran, now approaching its 15th week, put on a mini three-act play on June 11. It was another whirlwind day for a conflict that does not appear to be inching closer to a resolution, despite on-again, off-again promises that a peace agreement is on the horizon. Investors are hopeful that the end is near, and oil markets could find relief in President Donald Trump’s two revelations about what has been happening in the Strait of Hormuz over the last month.

Iran to Watch a Three-Act Play

The first act occurred on Thursday, June 11.

In a Truth Social post that morning, President Donald Trump stated that the United States would hit Iran “very hard tonight.” He also threatened to soon take over Iran’s oil and gas sector, with Kharg Island in the military’s sights. This is Iran’s primary oil export hub, handling about 90% of the country’s crude exports and maintaining a storage capacity of roughly 30 million barrels.

“At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America,” the president wrote.

Act two came a few hours later.

Trump announced that the scheduled strikes and bombing had been called off following discussions with Israel and nine other regional countries (excluding Iran and Lebanon). According to the president, talks with the regime “have been brought to the highest level of Iranian leadership and approved.” The naval blockade would remain in full effect “until this Transaction is finalized,” and he added that the time and place of a peace signing would be “announced shortly.”

Reports surfaced that a deal would include several restrictions on the country’s nuclear capabilities and other aspects.

But then the curtain was lifted for the third act shortly after Trump’s social media announcement.

Iranian state media outlet Fars reported on Telegram that Tehran........

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