US-Iran Deal to End War and Lift Blockade
The United States and Iran have reached a peace agreement that includes an immediate and permanent halt to military operations on all fronts, the lifting of the naval blockade on Iranian ports, and the opening of the Strait of Hormuz to international navigation without fees. The final memorandum of understanding is scheduled to be signed in Geneva on June 19, with the ceasefire and blockade lift coming into effect immediately upon signing. The announcement caused Brent crude prices to decline by about 4%, reaching approximately $84 per barrel. Both parties consider the agreement to bring peace to the region.
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