Iran, US reach deal to extend ceasefire, pending Trump’s approval

The United States and Iran have reportedly agreed to a 60-day extension of their ceasefire and a lifting of shipping restrictions in the Strait of Hormuz, according to sources familiar with the matter. This potential breakthrough aims to allow traffic to flow through the strategic waterway while negotiators address more complex issues, including Iran's nuclear program.

If approved by leaders in Washington and Tehran, this agreement would represent a significant step toward peace since the conflict began on February 28. The news emerged following a series of retaliatory attacks between the two nations, underscoring the volatile nature of the ongoing conflict. US Vice President JD Vance expressed cautious optimism, stating, "We're not there yet, but we're very close and we're going to keep on working at it." He added, "I can't guarantee that we're going to get there, but right now I feel pretty good about it."

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We’re not there yet, but we’re very close and we’re going to keep on working at it.

The proposed deal reportedly includes provisions for unrestricted shipping through the strait and the lifting of some US sanctions on Iranian oil sales. This development prompted a drop in oil prices, fueled by hopes of a potential reopening of the Strait of Hormuz, a critical route for approximately one-fifth of the world's oil and liquefied natural gas supply. Earlier reports indicated US forces had intercepted Iranian drones and struck a control station, while Kuwaiti forces intercepted a missile, highlighting the persistent tensions.

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I can’t guarantee that we’re going to get there, ​but right now I feel pretty good about it.