US and Iran plan to open the Strait of Hormuz in 30 days
The US and Iran are working towards a preliminary agreement to end conflict, with plans to open the Strait of Hormuz in about 30 days.
The proposed deal includes a 60-day ceasefire, reopening of the Strait of Hormuz, and potential easing of US restrictions on Iranian ports.
The development has led to a decline in crude oil prices, as investors shift their focus towards the diplomatic efforts.
The negotiations are ongoing, with Iran’s top negotiator and foreign minister in Doha to work out a deal.