It’s 07:17 PM IST on Tuesday, June 24, 2025, and a new development is making headlines! U.S. President Donald Trump has announced that China can now continue purchasing oil from Iran, a move that comes amid ongoing tensions following U.S. strikes on Iran’s nuclear sites. In a statement, Trump expressed his pride in making this happen and hopes China will also buy a lot of oil from the U.S. This news, reported alongside recent MarketWatch updates, could change trade dynamics and ease some market worries.
What’s Happening:
- New Trade Deal: The U.S. has allowed China to keep buying oil from Iran, even after the recent attacks on Iran’s nuclear facilities. This is seen as a way to keep global oil markets steady.
- U.S. Hopes: Trump said he hopes China will buy plenty of oil from the U.S. too, which could boost American businesses and create jobs.
- Iran Reaction: Iran has welcomed the decision, saying it will help their economy after the U.S. strikes damaged some of their oil sites.
- Market Impact: Oil prices, which went up after the strikes, might settle down now. Investors are watching to see if this leads to more trade between the U.S. and China.
This announcement follows a week of tension after the U.S. hit Iran’s nuclear sites like Fordow and Natanz. An expert told MarketWatch that this move could be a smart way to balance things, but it depends on how China responds. Trump called it a “great honor” to make this deal, hinting at talks with Chinese leaders to strengthen ties.
What This Means for Us:
- Oil prices might not jump as much now, which could help keep fuel costs lower.
- If China buys more U.S. oil, it could mean more money and jobs in America.
- Iran might recover faster from the attacks, but the situation could still get tricky if fighting starts again.
What to Look For:
- How much oil China will buy from the U.S. and Iran in the coming weeks.
- Any new statements from Iran or China about this deal.
- Changes in oil prices and stock markets as the news spreads.
Keep checking for updates as this story develops!
