Main PointsUS and Iranian officials say they have reached a permanent agreement to end their war The plan includes the immediate reopening of the Strait of HormuzOil prices, which have risen more than 50 per cent since the US and Israel attacked Iran, fell sharply on the news Donald Trump also said in a social media post that he had ordered the end of the US blockade of Iranian portsIn a statement, the secretariat of Iran’s Supreme National Security Council said ​military operations on all fronts, including Lebanon, would end permanently from Monday nightKey ReadsAnalysis: Inside Iran’s underground ‘missile cities’ – battered but still firingLebanon’s displaced people: War, poverty and rising tensions on Beirut’s CornicheData Investigation: Is Ireland’s oil supply stable? It’s a question of timeRonan McGreevy - 37 minutes agoMarkets react positively to Iran deal newsShare markets and bonds rallied hard on Monday and oil prices tumbled 5 per cent as a framework peace deal between the ‌United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.Europe’s early optimism drove both the STOXX 600 and FTSE Eurofirst to records. Asia’s biggest markets had all leapt overnight, while futures markets pointed to gains of ​1.3 per cent to 2 per cent for Wall Street later.Early on Monday, Pakistani Prime Minister Shehbaz Sharif said on social media an Iranian peace deal had been struck, while President Donald Trump said the pact included opening the vital Strait of Hormuz, though without giving details.Trump will meet Middle Eastern leaders and attend a working session with Ukrainian President Volodymyr Zelenskiy during a G7 summit in France this week.Iran said traffic through the strait would be regulated by it and Oman, a potential blow to the rules of ​free trade that suggests there might be a toll of some kind on transits.Ronan McGreevy - 1 hour agoStarmer describes Iran deal as ‘important step forward’British prime minister Keir Starmer has welcomed the US-Iran deal. He described it as a “hugely important step forward” in ending the war and ensuring regional stability. “I congratulate president Trump and the mediators from Pakistan, Qatar and elsewhere who have contributed to the breakthrough. “We have long urged de-escalation and this is the progress we have hoped to see. “We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz, to begin easing the severe economic impacts that have been felt for several months - on families here in the UK and around the world”. Ronan McGreevy - 2 hours agoMcEntee welcomes ceasefire dealMinister for Foreign Affairs Helen McEntee welcomed the announcement of a deal between the US and Iran. She added in a statement: “I hope there can now be a full engagement by all involved to implement this agreement, address all issues including Iran’s nuclear programme, and achieve a just and lasting peace across the region. “Reopening the Strait to international shipping would bring much-needed relief to the global economy.“The situation in Lebanon is deeply concerning and must also be addressed.” The issues surrounding the ceasefire will be addressed later today at a meeting in Luxembourg of EU foreign ministers. Nella notte abbiamo già espresso, insieme a Francia, Germania e Regno Unito, il nostro forte apprezzamento per il memorandum d’intesa siglato da Stati Uniti e Iran nelle scorse ore.Un grazie sentito va a tutti i mediatori, e in particolare al Qatar e al Pakistan, che hanno reso…— Giorgia Meloni (@GiorgiaMeloni) June 15, 2026