US-Iran Peace Agreement to End 107-Day War

On 14th June 2026, the United States and Iran finalised a peace agreement to end the 107-day conflict and reopen the strategically important Strait of Hormuz, a key global oil transit route.

Key Points:

Peace Agreement Finalised: The US and Iran have reached a preliminary agreement to end the 107-day war, with the formal signing scheduled for 19 June 2026, in Switzerland.
Reopening of Strait of Hormuz: The agreement provides for the reopening of the Strait of Hormuz, through which nearly one-fifth of global oil supplies are transported.
End of Naval Blockade: The United States will lift its naval blockade on Iranian ports as part of the agreement.
Nuclear Negotiations: The agreement includes a 60-day negotiation period during which both countries will discuss the following:
- Iran's uranium enrichment programme
- Disposal of highly enriched uranium
- Future nuclear commitments and sanctions-related issues
Impact on Global Energy Markets: Following the announcement, international oil prices fell sharply as markets anticipated the restoration of oil flows through the Strait of Hormuz.