The United States and Iran have reached a preliminary agreement to end their war and reopen the Strait of Hormuz, according to officials from both countries, easing concerns over disruptions to global energy supplies while leaving Tehran's nuclear programme subject to further negotiations.

The US and Iran are finalizing a draft MOU proposing a 60-day ceasefire, reopening the Strait of Hormuz, and sanctions relief while excluding missile talks.

Irans nuclear program has been a key point of division. The U.S. and Israel fear it could lead to an atomic weapon — a main reason their leaders cited for going to war.