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The Strait of Hormuz is expected to reopen on Friday after a US-Iran framework agreement, but mine clearance, insurance hurdles, and shipper caution mean normal traffic may take weeks to resume. Around 500 vessels remain stranded in the Gulf, and daily transits are still a fraction of prewar levels.
The United States and Iran have signed an interim memorandum of understanding, mediated by Pakistan and Qatar, to end their war and reopen the Strait of Hormuz. The deal includes a 60-day negotiation period on nuclear issues and sanctions, with the US lifting its naval blockade and releasing billions in frozen assets. Reactions vary, with experts and regional powers expressing cautious optimism or skepticism.
US President Donald Trump announced that ships are starting to move through the Strait of Hormuz following a preliminary US-Iran deal, but ship-tracking data shows only a handful of vessels have transited, with hundreds still waiting. The reopening faces security concerns such as mines and tolls, while shipping operators and seafarers' advocates remain cautious.
French President Emmanuel Macron warned Iran against imposing tolls on shipping through the Strait of Hormuz, as a US-Iran deal to end the Middle East war takes effect. A joint France-UK military mission is ready to deploy to help secure the reopened waterway, though risks from potential mines remain. The agreement includes a 60-day negotiation process and the release of $12 billion in frozen assets, according to reports.
Israeli Defence Minister Israel Katz said troops will remain in southern Lebanon, complicating US-Iran interim peace talks. Israel plans to stay 'indefinitely' in lands it holds in Lebanon, Syria and Gaza, while Iran has tied the deal to halting attacks on Hezbollah. The remarks are the first official Israeli comments since the interim deal announcement.
The US Federal Reserve and Bank of England are expected to keep interest rates unchanged this week, as a peace deal between the US and Iran eases inflationary pressures. Meanwhile, UK unemployment fell and wage growth strengthened, while the European Central Bank raised rates last week.
The United States and Iran have announced a preliminary ceasefire deal, set to be signed later this week, which would reopen the Strait of Hormuz and set the stage for negotiations on a long-term agreement. While world leaders have welcomed the move, Israel's defense minister said his country will not withdraw from territory seized in Lebanon, and Jewish groups in the US are split in their reactions.
Brent crude has fallen to its lowest levels since early March as a US-Iran peace deal appears imminent, raising hopes for the reopening of the Strait of Hormuz. While markets react positively, experts caution that a swift return to normalcy is uncertain and could take months.
Reports indicate the US and Iran have agreed on a memorandum of understanding, an interim measure that extends the ceasefire for 60 days and includes a two-step peace process. Analysts describe the agreement as an outline for negotiations rather than a comprehensive settlement, with challenges ahead including the nuclear file and regional tensions.
Stock markets around the world surged and oil prices dropped following the announcement of a deal between the US and Iran to end the US-Israel war on Iran and reopen the Strait of Hormuz. The S&P 500 and Nasdaq posted significant gains, while Brent crude fell sharply, reflecting hopes for restored stability in energy supply chains.
US President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the war, with Iran agreeing to dilute enriched uranium in exchange for economic relief. Protests in Iran and conflicting statements over the signing date highlight ongoing tensions.
The US Department of Justice has approved Paramount Skydance's $111bn acquisition of Warner Bros Discovery, concluding the deal is unlikely to harm competition. The merger faces ongoing scrutiny from state and UK regulators, and has drawn criticism from industry professionals and Senator Elizabeth Warren.
The U.S. and Iran have signed a memorandum of understanding to end hostilities, lifting blockades and setting the stage for nuclear talks. The deal, reached after a months-long war that failed to achieve either side's goals, has been met with relief and skepticism, with Israel watching from the sidelines.
US air strikes near the Strait of Hormuz damaged two drinking water reservoirs in southern Iran, leaving an estimated 20,000 residents without safe water amid extreme heat. Iranian officials condemned the strikes as a violation of international law, while US Central Command said it was looking into the reports. Experts have raised the possibility that the destruction could amount to a war crime if the tanks were deliberately targeted.
US President Donald Trump cancelled planned strikes on Iran, citing that negotiations had reached the highest levels of Iranian leadership and that final points of a deal were approved by all parties. The announcement came amid reports of Qatari mediation and expectations of a signing in Europe. Regional reactions and details of the proposed agreement continue to emerge.
US President Donald Trump has threatened to strike Iran 'very hard' and take control of the key oil hub of Kharg Island, even as indirect talks between Washington and Tehran have intensified. Iranian officials have warned of a harsh response to any 'reckless' US action, while negotiations mediated by Pakistan and Qatar continue in Switzerland.
President Trump announced a secret US mission to escort oil tankers through the Strait of Hormuz, claiming over 100 million barrels moved. However, shipping data and Energy Secretary Chris Wright's testimony suggest figures may be far lower, with many vessels transiting with Iranian authorization.
Gulf Cooperation Council ministers condemned Iranian attacks on Arab countries, warning of threats to regional stability and global energy supplies. The GCC called for UN intervention and reserved the right to self-defense amid escalating US-Iran confrontations.
Iran's Revolutionary Guards say they have struck ships in the Strait of Hormuz after the US launched new strikes on Iran, prompting Tehran to declare the vital waterway closed. US Central Command says commercial traffic continues, while oil prices have risen and India has summoned the US envoy over an attack on a ship carrying Indian sailors.
Iran's military command has threatened to target any ship transiting the Strait of Hormuz, while the US military conducts new strikes. Amid the escalation, diplomatic efforts continue, with reports of a possible memorandum of understanding and discussions about tolls and reconstruction funding.