• President Trump claims a nuclear agreement with Iran will be signed within two days.
  • The deal aims to curb Iran's nuclear program and reopen key shipping routes.
  • Oil prices dip on hopes of reduced geopolitical risk in the Strait of Hormuz.

President Donald Trump announced that a long-awaited agreement with Iran is set to be signed within the next 48 hours, according to a statement made to reporters on Thursday. The deal, which has been under negotiation for months, is expected to include a memorandum of understanding outlining a framework for limiting Iran's nuclear activities and enhancing regional security.

"We're going to sign tomorrow or the day after. It's a great deal for both sides," Trump said, without providing specific terms. He emphasized that the agreement would help stabilize shipping routes in the Persian Gulf, a critical artery for global oil supplies.

The announcement comes after weeks of intensive talks mediated by regional partners, including Qatar and Oman. According to people familiar with the matter, the initial 24-hour signing period will be followed by 60 to 90 days of detailed negotiations on enforcement and verification mechanisms. Key points of contention, including uranium enrichment limits and sanctions relief, have reportedly been bridged, though disagreements persist among Iranian hardliners.

Market reaction was swift: Brent crude fell 2.3% to $72.15 per barrel on optimism that supply disruptions could ease. A senior oil trader noted, "Any deal that reduces the risk of a Strait of Hormuz closure is bullish for supply stability." However, analysts remain cautious about the deal's durability. "We've seen this movie before—a dramatic announcement followed by implementation hurdles," said a Middle East risk analyst.

Attempts to reach Iranian officials for comment were unsuccessful. European observers have welcomed the potential normalization, but U.S. lawmakers from both parties have expressed skepticism. "The devil is in the details," a senior Senate aide said. "We need to see the full text before passing judgment."

Correction: An earlier version of this article incorrectly stated that the signing would occur within 24 hours. The president's remarks indicate a 48-hour window.