Iran and US Reach Peace Agreement: Strait of Hormuz to Reopen

The US and Iran have agreed a deal to end the war, which mediator Pakistan says will be signed on Friday in Switzerland.

Donald Trump says the Strait of Hormuz will be reopened and the US naval blockade of Iran will end.

Oil prices have fallen since the announcement - and there is now every chance of avoiding a prolonged energy shock.

Iran's top military command hails the deal as a victory for Tehran.

Pakistan says the agreement includes an end to military operations in Lebanon. However, Israel says its forces will remain in the country.

The full text is yet to be published and Trump's larger goals remain unrealised for now, but the deal should help alleviate some of the economic strain the conflict has been causing.