Trump Announces U.S.-Iran Cease-Fire Deal; Shipping Firms Await Security Details Before Resuming Crossings

President Trump announced a peace deal between the United States and Iran on Sunday. Iranian officials said the two sides will sign a preliminary agreement on Friday that imposes a 60-day cease-fire and schedules immediate follow-on talks aimed at a permanent settlement.

The framework also calls for reopening the Strait of Hormuz, though the nuclear issue has been deferred and the text of the deal has not been published.

Senate Majority Leader John Thune said Tuesday he does not yet have enough information to judge the agreement. “I don’t know enough,” Thune stated, adding that lawmakers were working to obtain a copy and urging the administration to send senior officials to Capitol Hill for briefings. Three global shipping companies told The New York Times their vessels have not resumed crossings.

Kpler data showed roughly 500 large commercial vessels still in the Persian Gulf. K. Lines said operations would stay suspended until safety is confirmed and coordination with governments and insurers is complete.

Hapag-Lloyd and Maersk cited limited public details on security guarantees. 5 percent on Tuesday to its lowest level since mid-March. West Texas Intermediate crude dropped a similar amount to about $78 a barrel.

04 a gallon. Israeli forces carried out new strikes in southern Lebanon on Tuesday, according to Lebanon’s state-run news agency. Hezbollah said it attacked Israeli troops southeast of Nabatieh overnight.

European nations have positioned minesweepers and a destroyer near the region but said they will enter the strait only after confirming the cease-fire holds.