President Trump announced the US will work closely with Iran following a two‑week ceasefire agreement involving the US, Iran, Israel, mediated by Pakistan.
Vice President JD Vance called the truce fragile, saying Iran may allow safe Strait of Hormuz passage if shipping coordinates with its military.
Brent crude fell below $100 per barrel, while equity markets in Asia, Europe and US futures rose on hopes of restored oil flow.
Trump warned any country supplying weapons to Iran will face 50% US tariffs on all goods and pledged US assistance for Hormuz traffic.