The United States and Iran have signed a preliminary agreement that paves the way for the reopening of the Strait of Hormuz, a US source told Reuters on Monday.
The development signals a significant de-escalation in regional tensions that have kept shipping routes exposed and energy markets on edge.
The signing comes after weeks of diplomatic maneuvering and contradicts earlier reports that the deal was scheduled for a later date.
While the specific terms of the intent agreement remain undisclosed, the primary objective is to restore free navigation through the critical chokepoint, which handles a substantial portion of global oil and gas shipments.
The news arrives amid a complex backdrop of conflicting signals.
Iranian officials had previously dismissed claims that President Donald Trump’s administration had secured a finalized deal, casting doubt on the timeline and the extent of Tehran's commitments.