Trump announces peace deal has been reached with Iran (opens original article in a new tab)

US and Iranian officials have reached a framework to end their conflict, halt the US blockade of Iran, and reopen the Strait of Hormuz, with a memorandum of understanding set to be signed in Switzerland. Global oil prices dropped after the announcement.

• US and Iranian officials agreed on a framework to end their conflict and halt the US blockade of Iran
• Strait of Hormuz would reopen and a memorandum of understanding is scheduled for signing in Switzerland
• Global oil prices fell significantly following the announcement