The US and Iran say they have reached an agreement that will take effect on Saturday.
US President Donald Trump says the US is lifting its naval blockade on Iranian ports, and that the Strait of Hormuz will reopen once the framework is signed.
The full text of the agreement has not yet been released.
A signing ceremony is scheduled for Saturday in Switzerland.
US Vice President JD Vance says he will be there and that Trump may also attend.
The memorandum of understanding is expected to kick off 60 more days of negotiation on ending the war.
Brent crude and US crude prices fell yesterday after news of the agreement.
The Strait of Hormuz is a crucial waterway for global oil supply and has remained effectively closed since the start of the war in February.
Source: CNN
