President Donald Trump announced on Sunday that a deal has been reached to end the war between the United States and Iran. In a social media post, Trump stated the agreement is “complete” and declared that the U.S. Will lift its naval blockade of the Strait of Hormuz, urging “ships of the world” to “start your engines” and “let the oil flow.” Pakistan, which played a central role in mediating the negotiations, confirmed the agreement. Prime Minister Shehbaz Sharif stated that both sides have declared the “immediate and permanent termination of military operations on all fronts,” including in Lebanon. An official signing ceremony is scheduled for Friday, June 19, in Switzerland. While Trump characterized the agreement as a “great deal” that would bring “peace and security to the whole region,” Iran’s deputy foreign minister signaled via state media that Tehran views the deal as a victory. The announcement led to a significant drop in global oil prices. Brent crude fell to approximately $84.02 a barrel, while West Texas Intermediate dropped below $81. These prices are lower than the conflict’s peak of around $120 to $126 a barrel but remain higher than pre-war levels, which were in the $60s. Energy market experts warned that oil flows are unlikely to return to pre-war levels immediately, noting that clearing backlogs, removing mines, and repairing damaged facilities could take weeks or months. Despite the announcement, several uncertainties remain. Vice-President JD Vance stated that Iran never possessing a nuclear weapon is “built into this agreement,” but questions persist regarding specific enrichment restrictions and Iran’s current stockpile of highly enriched uranium. Iran’s Supreme National Security Council noted that final negotiations will be postponed until after the implementation of commitments under the memorandum of understanding. Also, Trump told the Wall Street Journal he was furious at Israeli Prime Minister Benjamin Netanyahu for strikes in Lebanon, which he believed could jeopardize the deal.