THE FIRST CUP - Daily News With Sean
Lots going on today folks, make sure to grab some coffee!
U.S.-Iran Two-Week Ceasefire — Strait of Hormuz Reopening
Last night, just under two hours before his 8 p.m. ET deadline, Trump announced a ceasefire. Here’s what we know:
The Deal:
Trump posted the announcement at 6:32 p.m. ET, just under 90 minutes before his deadline.  Trump agreed to suspend bombing Iran for two weeks on the condition that Iran reopens the Strait of Hormuz completely and immediately.  Iran’s Foreign Minister Abbas Araghchi confirmed the agreement, saying safe passage through the Strait would be possible via coordination with Iran’s Armed Forces. 
The Context:
The war has been raging for more than five weeks, since Israel and the U.S. launched a joint military offensive against Iran on February 28.  The war caused Saudi Arabia, Kuwait, the UAE, Qatar, and Bahrain to collectively shut in an estimated 7.5 million barrels per day of crude oil production in March, with that disruption expected to rise to 9.1 million barrels per day this month. 
The Threats Before the Deal:
Earlier Tuesday, Trump threatened that “a whole civilization will die tonight” if Iran did not meet his 8 p.m. deadline to open the Strait of Hormuz.  Pope Leo XIV condemned Trump’s threat to strike Iranian civilian infrastructure, calling it “truly unacceptable.” 
This Morning’s Developments:
Defense Secretary Hegseth and Joint Chiefs Chairman Gen. Dan Caine confirmed at a Pentagon briefing this morning that the Strait of Hormuz has reopened, with Hegseth saying ships “will be sailing” through Hormuz.  At least two vessels have already safely transited since the ceasefire was announced, though hundreds remain backlogged in the region — including 426 tankers. 
What’s Next:
Pakistan’s prime minister has invited delegations from both Iran and the U.S. to Islamabad for talks on Friday. Trump’s special envoy Steve Witkoff, Jared Kushner, and VP JD Vance are expected to attend. 
The Catches:
Iran, the UAE, and Kuwait all reported attacks just hours into the truce.  Netanyahu said the ceasefire doesn’t include Lebanon, despite Pakistan’s PM saying otherwise.  Hegseth also declared that Iran handing over its enriched uranium is “non-negotiable.” 
Markets:
Oil prices plunged after the announcement — U.S. crude slid 8% to around $103/barrel after trading as high as $117 earlier Tuesday. S&P 500 futures surged more than 1.6%. 
Other Notable Story:
The U.K. government barred Kanye West from entering the country ahead of a planned festival performance, citing his history of antisemitism. The Wireless Festival in London was subsequently canceled. 
Have an amazing Wednesday everyone. Lots of stuff going on, so make sure to follow me over on threads for all of the latest updates!
https://www.threads.com/@seanbartleymusic?igshid=NTc4MTIwNjQ2YQ==
See you tomorrow morning!
Sean