The United States and Iran have reached a preliminary agreement aimed at ending months of conflict and reopening the strategically important Strait of Hormuz, a move that has eased concerns across global markets and pushed oil prices lower.
The framework agreement, expected to be formally signed in Switzerland later this week, includes a ceasefire and the gradual restoration of shipping through the Strait of Hormuz, one of the world’s most critical energy routes.
The breakthrough follows mediation efforts led by Pakistan and has been welcomed by international leaders and the United Nations.
However, major issues remain unresolved, including the future of Iran’s nuclear programme and ongoing tensions involving Iran-backed Hezbollah in Lebanon.
