The United States and Iran have moved to reopen the Strait of Hormuz under a tentative agreement aimed at ending their war, a development with sweeping implications for global trade and energy.
A vital waterway
The strait is one of the world's most important shipping routes for oil and gas. Its effective closure during the conflict choked supply and rattled markets. A signing ceremony to formalise the deal was expected later in the week.
Global ripple effects
Restoring shipping through the strait would ease pressure on energy prices and supply chains worldwide. Officials cautioned that full normalisation of traffic could take time as mine-clearing and security measures proceed.
Sources: NPR, Al Jazeera.