United States and Iranian officials have reached a preliminary framework agreement to end their ongoing war. The pact includes a commitment to halt the U.S. blockade of Iran and reopen the strategically vital Strait of Hormuz. Following the announcement, global oil prices experienced a notable decline. While the agreement addresses immediate military and maritime tensions, it does not resolve all outstanding issues. Specifically, the fate of Iran’s nuclear program remains undecided and will be subject to further negotiations. The formal signing of the agreement is scheduled to take place this Friday. This diplomatic breakthrough marks a significant shift in the volatile relationship between the two nations.