The US and Iran have agreed on a ceasefire framework including Strait of Hormuz reopening and sanctions relief, sending oil prices down over 4%.

The US and Iran have agreed on a draft deal called the Islamabad Agreement, extending the ceasefire, reopening the Strait of Hormuz, and unlocking sanctions

Reports suggest Tehran secured most objectives, while US gains were mostly confined to reopening Hormuz

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

The United States and Iran have agreed on a peace framework aimed at ending the conflict, lifting the U.S. blockade of Iran and reopening the Strait of Hormuz, a key global oil…