US and Iran announce deal to reopen Strait of Hormuz and end war

The United States and Iran have announced a deal to end their war and reopen the Strait of Hormuz, a key waterway for global oil shipments. The agreement, which reportedly also includes a ceasefire on all fronts and addresses the conflict in Lebanon, was confirmed by President Trump, who credited Chinese President Xi Jinping and Russian President Vladimir Putin with helping to seal the deal.

The announcement has boosted stock markets, with US stocks set to rally on the news. However, some details remain unclear, as Trump also claimed the strait would open without tolls, while other reports suggest the fate of the strait is still uncertain. The deal marks a major shift in US-Iran relations after years of tensions.