Trump Announces Preliminary U.S.-Iran Deal and Partial Reopening of Strait of Hormuz

President Donald Trump announced today that a preliminary agreement between the United States and Iran has been signed, characterizing the deal as a 60-day ceasefire intended to establish a track for deeper negotiations. Speaking from France, the President indicated that a formal signing ceremony is expected to take place in Geneva later this week. While the full text of the agreement has not yet been made public, military officials suggest the immediate focus is a de-escalation of maritime hostilities and the restoration of global shipping routes. The Strait of Hormuz, a critical artery for one-fifth of the world’s oil supply, has begun a staged reopening. President Trump stated the waterway is "already partially open" and is expected to be "completely open" by Friday. However, the transition remains cautious as U.S. forces continue "hunting for a couple of mines" to ensure safe passage for commercial vessels. Oil markets responded to the news with a sharp decline in prices, though analysts note that the backlog of shipping and ongoing clearance operations will result in a gradual return to normal trade volumes. Despite the diplomatic breakthrough, major long-term issues remain unresolved. The agreement reportedly defers contentious topics, such as Iran’s uranium stockpile and its support for regional proxy militias like Hezbollah, to future rounds of talks. Technical details regarding sanctions relief and the release of frozen Iranian assets are also pending, with the Trump administration maintaining that any economic benefits for Tehran will remain strictly conditional on the Islamic Republic's future conduct and measurable nuclear restraint.