The United States and Iran have agreed on a framework deal to end their conflict and reopen the Strait of Hormuz. The announcement triggered a sharp decline in oil prices and boosted market sentiment across Asia. US President Donald Trump said the agreement was complete and confirmed that the Strait of Hormuz would reopen on Friday. Pakistan, which helped mediate the negotiations, said the two sides reached the agreement early on Monday. The memorandum of understanding is expected to be signed in Switzerland on Friday. Iran’s Supreme National Security Council said military operations would end permanently from Monday night. Iranian officials said further negotiations would take place during a 60-day ceasefire period. The talks will address sanctions relief and the future of Iran’s nuclear programme. The agreement could ease pressure on global energy markets after months of disruption in the Gulf region. The Strait of Hormuz is one of the world’s most important energy shipping routes. Its closure disrupted oil and gas flows and increased freight and energy costs. Following the announcement, Brent crude prices fell around 4% in early trading. Shipping and energy markets welcomed the prospect of restored navigation through the waterway. However, several key issues remain unresolved, including the future of Iran’s nuclear activities and long-term regional security arrangements. The conflict began in February and has affected maritime trade, energy markets and supply chains across the region. Industry stakeholders are now closely monitoring the implementation of the agreement and the planned reopening of the Strait of Hormuz. The post US and Iran agree framework deal to end conflict and reopen Strait of Hormuz appeared first on Container News .