US President Donald Trump announced on Monday that many oil-laden ships are beginning to move out of the Strait of Hormuz, the critical waterway through which one-fifth of the world's oil supply passes. In a post on Truth Social, Trump wrote, "Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz. They are going along the Southern 'Highway,' which is totally safe, secure, and pristine."
US-Iran Peace Deal Finalized
Earlier, Trump confirmed that the United States and Iran have finalized a deal to end their 107-day war, which had triggered a global energy crisis. The announcement eased pressure on global energy markets. "The Deal with the Islamic Republic of Iran is now complete. Congratulations to all," Trump said in a Truth Social post on Sunday evening.
Signing Ceremony in Switzerland
Pakistan Prime Minister Shehbaz Sharif stated on Monday that his country will host the signing ceremony of the peace deal between the US and Iran, scheduled to take place in Switzerland on June 19. However, specific details of the agreement were not immediately disclosed.
The reopening of the Strait of Hormuz and the resumption of oil shipments are expected to stabilize global oil supplies and alleviate the energy crisis that had gripped markets during the conflict.
