The United States and Iran have reached a framework agreement to end their ongoing war and reopen the Strait of Hormuz, a critical global shipping lane whose closure had sent oil prices sharply higher. President Trump ordered a stop to the US naval blockade as part of the accord, and Vice President Vance confirmed the deal had already been signed digitally on Sunday ahead of a formal signing ceremony planned for Switzerland.

The agreement marks a significant diplomatic turning point following weeks of military conflict between US and Iranian forces. Oil prices began falling sharply in the immediate aftermath of the announcement, reflecting market relief over the prospect of restored shipping through the strait, through which a significant share of the world's petroleum exports pass.

The deal's details remain only partially disclosed publicly. Trump called for restraint from regional actors as the agreement was being finalized, a message directed in part at Israel, which had carried out airstrikes on Beirut in the days prior. Israel's government is now working through the implications of a US-Iran settlement reached without its direct involvement, and Netanyahu's office has not yet publicly endorsed the terms.

The formal signing is expected to take place in Switzerland, a traditional venue for sensitive diplomatic agreements. While the broad outlines — ending hostilities and restoring Hormuz shipping — have been confirmed across multiple outlets, specific terms governing Iran's nuclear program and sanctions relief have not been fully released. Officials from both sides have acknowledged the deal's existence without providing a comprehensive public accounting of its provisions.

The announcement has drawn wide coverage across the political spectrum, with outlets noting both the immediate economic impact of falling energy costs and the unresolved questions surrounding Israel's position and the deal's longer-term enforceability. The speed of the agreement and the digital signing format have also drawn attention as unusual features of a major international accord.