New Yorkers took to the streets over the weekend to celebrate the Knicks’ first NBA championship in more than 50 years. Preparations are now underway for a victory parade on Thursday, along with a ceremony honoring the team with keys to the city.

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Oil tankers sit at anchor in the Strait of Hormuz off Bandar Abbas, Iran, in May. Amirhosein Khorgooi/AP

1️⃣ Diplomatic breakthrough

The US and Iran say they have reached an agreement to end the war that will take effect on Friday, though both sides have signaled the deal hinges on certain conditions. President Donald Trump said the US is lifting its naval blockade on Iranian ports and that the Strait of Hormuz will reopen after the agreement is signed. Follow the latest updates.