News · 24 May 2026

Trump announces Iran 60-day ceasefire, reopens oil trade.

The proposed Iran ceasefire deal could lead to the Strait of Hormuz reopening, allowing Iran to freely sell its oil. US President Donald Trump announced a "memorandum of understanding" for peace has been largely negotiated. This agreement involves a 60-day ceasefire extension and lifting the US blockade on Iranian ports, a measure from 13 April.

By BriefTea Editorial · 24 May 2026 at 13:47

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