U.S. President Donald Trump announced Saturday that an agreement with Iran to end the ongoing conflict will be signed this Sunday. The deal is expected to immediately reopen the Strait of Hormuz, a critical waterway for global oil transport. This announcement comes despite previous denials from Iranian officials regarding any such agreement. Details of the agreement remain scarce, but the stated aim is to de-escalate tensions in the region. The move potentially averts further military confrontation following a period of heightened instability. The immediate impact is anticipated to be the resumption of normal shipping traffic through the Strait of Hormuz. Further information regarding the terms and conditions of the agreement is expected following the signing ceremony.