US and Iran Agree to Ceasefire, Strait of Hormuz Reopens

The United States and Iran have reached a ceasefire agreement to end the conflict in the Middle East and reopen the critical Strait of Hormuz. While the deal aims to ease global economic and energy disruptions, differing interpretations exist regarding its implementation, particularly concerning Israel's role. The IMF welcomed the ceasefire but noted that energy recovery would be a lengthy process due to infrastructure damage.