The United States and Iran have reached a preliminary agreement to extend their ceasefire and reopen the Strait of Hormuz, though the strait will not open until the deal is signed on Friday. - Israel refuses to withdraw from seized Lebanese territory, potentially derailing the deal.
- The agreement gives only 60 days to address Iran's nuclear program, a major sticking point. - World leaders cautiously welcome the deal, but oil markets remain volatile.
The agreement, if signed, could ease the global energy crisis, but significant challenges remain.