US and Iran Announce Preliminary Peace Agreement

The United States and Iran have reportedly reached a preliminary agreement to end their conflict, mediated by Pakistan. This deal includes an immediate ceasefire, the reopening of the Strait of Hormuz, and the lifting of a US naval blockade. Formal signing is anticipated in Switzerland, with further talks on Iran's nuclear program expected. Global oil prices have dropped, and stock markets have risen following the announcement, though Israel has expressed reservations.