Oil might soon flow through the Strait of Hormuz, but the damage done by Trump’s war will linger for a very long time.

The US and Iran have tentatively agreed on a memorandum of understanding that would reopen the Strait of Hormuz and pause fighting for 60 days, but the deal still needs final…

The president said the US and Iran would sign a deal to reopen the Strait of Hormuz on Monday AEST, although Iran cautioned that the timing was still unclear.

Iran has insisted it will maintain control over the Strait of Hormuz, a key maritime trade route for oil and gas shipments from the Gulf.

In a social media post, Trump said the strait would be open "toll free" and that the US naval blockade would also end.

United States President Donald Trump has announced that a ceasefire deal with Iran has been agreed to and that toll-free shipping through the Strait of Hormuz will now begin.The…