United States and Iran reach agreement to end war and reopen the Strait of Hormuz

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The United States and Iran have agreed to end hostilities and reopen the Strait of Hormuz, a critical waterway through which roughly one-third of globally traded oil passes. President Donald Trump announced the deal, with details emerging from a draft memorandum of understanding released by Iranian state media Sunday. The agreement marks a significant shift in U.S.-Iran relations after months of escalating tensions. Terms of the accord were not immediately disclosed in full, though reopening the strait, a choke point that Iran had threatened to block, could ease global energy markets and reduce regional conflict.