Oil prices have fallen following an announcement of a deal between the United States and Iran, brokered with Pakistan’s assistance. The agreement centers on the reopening of the strategically vital Strait of Hormuz, a key global shipping lane for oil. US President Donald Trump confirmed the details of the arrangement. The reopening is expected to alleviate concerns about potential disruptions to oil supplies in the region, contributing to the price decrease. This development signals a potential de-escalation of tensions between Washington and Tehran. Analysts suggest the deal could have broader implications for regional stability and global energy markets. Further details of the agreement remain limited at this time.