ADVERTISEMENT In a stunning late-night turnaround that has eased global fears of an escalating energy crisis, the United States and Iran have reached a conditional two-week ceasefire, with Tehran agreeing to immediately reopen the strategic Strait of Hormuz to all shipping traffic.
President Donald Trump announced the deal on Truth Social just before his self-imposed 8 p.m. EDT deadline, hailing it as a “total and complete victory” for American objectives after more than a month of intense US-Israeli military operations against Iran. Iran swiftly confirmed the truce, with its Foreign Minister describing the move as achieving key national goals while insisting that US and allied strikes must fully halt.
The centerpiece of the agreement is the full, safe, and immediate reopening of the Strait of Hormuz — the narrow waterway through which roughly one-fifth of the world’s oil supply passes daily. Iran’s armed forces will coordinate vessel passage during the pause, and both Iran and Oman are expected to introduce transit fees on shipping, marking a notable shift from pre-conflict arrangements.
Pakistan played the pivotal role in brokering the deal. Prime Minister Shehbaz Sharif and Army Chief Field Marshal Asim Munir urged Trump to extend his deadline and pressed Iran to open the strait as a goodwill measure. Sharif declared the ceasefire effective immediately across all fronts and invited delegations from both sides to Islamabad for formal talks beginning Friday, April 10.
Trump credited the Pakistani intervention, noting that Iran had put forward a 10-point proposal serving as a “workable basis” for further negotiations. He warned, however, that the pause could collapse if Iran fails to uphold its commitments on safe maritime passage.
Global markets erupted in relief. Brent crude plunged more than 13 percent to around $94–$95 per barrel, while US West Texas Intermediate crude dropped sharply toward the mid-$90s range — a dramatic reversal from recent war-driven spikes that had pushed prices well above $110. Asian stock markets surged in response, with major indices posting strong gains as investors bet on restored energy flows and reduced geopolitical risk.
Both sides claimed success in the fragile accord. The White House described the outcome as exceeding core US military objectives in just 38 days of operations. Iranian officials celebrated the regime’s survival and what they called strategic concessions from Washington, including potential pathways toward sanctions relief. Israel signaled support for the two-week pause on the Iran front but pointedly excluded ongoing operations against Hezbollah in Lebanon, leaving a potential flashpoint unresolved.
UN Secretary-General António Guterres welcomed the development and called on all parties to honor the terms in full, hoping the window leads to lasting peace.
Over the next 15 days, negotiators in Islamabad will tackle the thorniest issues: Iran’s nuclear program, sanctions, regional proxy conflicts, and long-term security arrangements in the Gulf. Deep mutual distrust remains after weeks of conflict that began in late February, but the immediate reopening of Hormuz could see tanker traffic resuming within 48 hours, bringing welcome relief to global supply chains and household energy costs.
For now, the world has dodged an even sharper oil shock. Whether this two-week breather becomes the foundation for a broader “Islamabad Accord” or simply a temporary pause before tensions reignite remains to be seen. All eyes are now on Islamabad — and on whether cooler heads can finally prevail in one of the world’s most volatile regions.
Live coverage and reactions continue across major international outlets.
