The United States and Iran have reached a tentative peace deal to end the war that began in late February, with both sides confirming the agreement and scheduling an official signing ceremony for June 19. President Donald Trump ordered an immediate halt to the US naval blockade, and the Strait of Hormuz has been reopened to commercial shipping.
Global markets react positively
Wall Street and Asian markets rallied sharply on the announcement. The S&P 500 posted its biggest single-day gain in months as energy prices dropped. Brent crude fell below $65 per barrel for the first time since the conflict began, easing inflation pressures worldwide. The World Bank had earlier cut its global growth forecast to 2.5 percent due to the war-driven energy crisis.
Unresolved questions remain
While both sides have agreed to a framework, the future of Iran's nuclear program remains a sticking point. Israeli National Security Minister Itamar Ben-Gvir stated that Israel is not bound by the deal. The E4 countries (UK, France, Germany, EU) welcomed the agreement and signaled readiness to lift sanctions. Pakistan's Prime Minister Shehbaz Sharif helped broker the final text.
Human cost of the conflict
The war caused tens of thousands of casualties across the Middle East, with Iran launching drones and missiles toward Gulf states and the US-Israel coalition conducting airstrikes on Iranian military targets. The deal brings an end to the most severe regional conflict since the 2003 Iraq War.