President Donald Trump said on Friday that a deal to end the war with Iran is scheduled to be signed on Sunday, and that the Strait of Hormuz — the chokepoint for roughly a fifth of the world's seaborne oil — will reopen to all shipping immediately afterward. "The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL," Trump wrote on Truth Social.

According to the president, the agreement would halt Iran's pursuit of a nuclear weapon. People briefed on the terms say it pairs a 60-day extension of the existing ceasefire with the reopening of the strait and, in principle, an Iranian commitment not to enrich uranium for 15 to 20 years — a period during which Tehran would also begin dismantling its nuclear facilities.

Iranian state media were more guarded, declining to confirm the Sunday timeline and signaling that elements of the agreement remain unsettled. The gap between Washington's confident framing and Tehran's caution leaves open the possibility of last-minute delay, even as both sides describe the broad outlines as largely agreed.

The announcement is the clearest sign yet that the months-long confrontation built around the strait may be winding down. The crisis escalated through the spring after Trump issued ultimatums demanding the waterway be reopened, and culminated in exchanges of strikes between the two countries and on US bases in the region.

A reopening would matter immediately for global energy markets. The closure has kept a war-risk premium in crude prices and snarled tanker traffic at the mouth of the Gulf; the mere prospect of a signed deal has already pulled oil down toward two-month lows this week.

Markets have read the diplomacy as de-escalation. US benchmark crude has slid as traders price in the return of Gulf barrels, and equities have steadied after weeks of volatility tied to the standoff and the threat of a wider regional war.

Much still depends on implementation. Reopening the strait safely would require unwinding the military posture on both sides, restoring insurance coverage for vessels, and verifying that Iran follows through on the nuclear commitments at the center of the agreement — steps that will take far longer than the signing ceremony itself.

Trump has cast the prospective deal as a decisive end to the crisis. Whether Sunday brings a signature, and whether the strait reopens as cleanly as advertised, will be the first test of an agreement whose details neither government has fully made public.