The United States and Iran have announced a peace agreement following months of open conflict. The deal includes a cessation of hostilities between the two nations and the reopening of the strategically vital Strait of Hormuz. A formal signing ceremony is scheduled to take place on June 19th in Switzerland, facilitated by international mediators. Details of the agreement beyond these key points remain limited. This development marks a significant shift in relations after a period of heightened tensions and military escalation. The reopening of the Strait of Hormuz is expected to ease global oil supply concerns. Further announcements regarding the specifics of the peace accord are anticipated following the official signing.