Trump announced on June 14 that the US and Iran have agreed to end their war with a formal signing scheduled for Friday, June 15. The deal includes permanent cessation of military operations on all fronts—including in Lebanon—and reopening the Strait of Hormuz to international shipping, which had been blocked since the conflict began in late February 2026. Oil markets reacted immediately with price drops in anticipation of increased global supply, but some Republican senators including Lindsey Graham have raised concerns about whether both sides interpret the agreement identically. The signing location is Switzerland, with Pakistan's Prime Minister Shehbaz Sharif playing a key diplomatic role in brokering the agreement.