The Prime Minister of Pakistan announced Sunday evening that the United States and Iran have reached a peace agreement aimed at ending the conflict in the Middle East. The official signing ceremony is scheduled for Friday, June 19th, in Switzerland. Following the announcement, Donald Trump stated the Strait of Hormuz will reopen after the agreement is signed. Simultaneously, the US naval blockade will be lifted. This agreement signals a potential de-escalation of tensions in the region, which have been heightened in recent months. Details of the agreement have not yet been released, but the announcement has been met with cautious optimism internationally. The move could have significant implications for global oil markets and regional stability.