Trump said the Strait of Hormuz would be open to all if Iran meets U.S. demands, signaling a possible peace deal.
Project Freedom to unblock Hormuz was paused temporarily at Pakistan’s request, while the U.S. blockade remains fully in effect.
A tentative agreement would see Iran halt enrichment, the U.S. lift sanctions and release frozen funds, and lift Hormuz restrictions.
Brent crude fell 7.1% to $102.04 a barrel, still above pre‑war $70, while global markets and U.S. stocks rose.