Nigeria TV Info U.S., Iran Reach Landmark Deal to Extend Ceasefire, Reopen Strait of Hormuz

The United States and Iran have reached a landmark agreement to extend their fragile ceasefire by another 60 days and reopen the strategic Strait of Hormuz, a move expected to ease tensions in the Middle East and stabilize global energy markets. The agreement, brokered with the assistance of Pakistan and other regional mediators, is set to be formally signed in Switzerland later this week.

Under the deal, both nations agreed to halt military operations and begin fresh negotiations on Iran's nuclear programme and regional security issues. The reopening of the Strait of Hormuz, through which nearly one-fifth of the world's oil and liquefied natural gas supplies pass, is expected to restore disrupted energy shipments and reduce fears of a prolonged global energy crisis.

Global financial markets reacted positively to the announcement. Oil prices fell by more than 4 percent, while stock markets across Asia and Europe rallied on hopes that the agreement could pave the way for a broader peace settlement in the region. Analysts, however, warned that the success of the deal depends on its implementation and the outcome of upcoming nuclear negotiations.

The agreement also includes plans to lift the U.S. naval blockade on Iranian ports and establish mechanisms to guarantee safe maritime navigation in the Strait of Hormuz. World leaders have welcomed the breakthrough, describing it as a significant step toward ending months of conflict and preventing further economic disruption.