US and Iran Reach Deal to End War, Reopen Strait of Hormuz
The deal ends 107 days of fighting and schedules a signing ceremony for June 19 in Switzerland. Oil prices fell nearly 5 percent and stock indexes rose on expectations of stabilized energy supplies.
Los Angeles TimesThe United States and Iran reached an agreement to end their war and reopen the Strait of Hormuz after 107 days of fighting. Both sides declared an immediate and permanent end to military operations on all fronts, including Lebanon. Pakistan announced the deal on Sunday.
An official signing ceremony is scheduled for June 19 in Switzerland. After the ceremony, commercial traffic through the Strait of Hormuz is expected to resume. Pakistani Prime Minister Shehbaz Sharif posted on X that the agreement had been reached and that the June 19 ceremony would take place in Switzerland.
President Trump announced the deal on Truth Social and said the text is complete. Oil prices fell nearly 5 percent after the announcement. West Texas Intermediate crude dropped sharply as traders reacted to the prospect of resumed tanker traffic.
Stock indexes rose at the open Monday in Asia and Europe. Share prices gained on expectations that energy supplies would stabilize. Israeli Prime Minister Benjamin Netanyahu told President Trump that Israel will not withdraw its troops from Lebanon and will continue operations against Iran-backed Hezbollah, according to Israeli news service Ynet.
Qatari mediators departed Tehran after 17 hours of talks that produced the memorandum of understanding, a diplomat briefed on the process said. K. Prime Minister Keir Starmer and French President Emmanuel Macron issued statements welcoming the agreement and urging full implementation.
