A ceasefire agreement between the United States and Iran was reached on November 14th, effectively ending a prolonged period of heightened tensions. This agreement follows over 100 days of de facto closure of the strategically vital Hormuz Strait. The reopening of the strait is expected to alleviate significant disruptions to global energy supplies. However, experts caution that a full normalization of the energy market will likely take time. The agreement’s details remain limited, but it signals a potential de-escalation of conflict in the region. Further analysis will be needed to assess the long-term impact on oil prices and international shipping routes. The negotiations took place with international mediation efforts.