The United States and Iran have reached a preliminary agreement to end months of conflict and reopen the Strait of Hormuz, a key global oil shipping route. The announcement triggered a sharp decline in oil prices and boosted investor confidence.
US President Donald Trump said the agreement was complete, while Pakistani Prime Minister Shehbaz Sharif confirmed that a deal had been reached through mediation efforts. The memorandum of understanding is expected to be formally signed in Switzerland later this week.
Under the framework, military operations are set to end across all fronts, including Lebanon. A 60-day ceasefire period will allow negotiations on broader issues, including sanctions relief and the future of Iran's nuclear program.
The Strait of Hormuz is expected to reopen, restoring a major route for global energy supplies. However, key details remain unresolved, particularly regarding Iran's nuclear activities and the implementation of long-term security arrangements.
