Day 40 of Iran War: US, Iran Agree to Two-Week Truce as Hormuz Reopening Tied to Talks

The United States and Iran agreed to a two-week truce late Tuesday, with Tehran committing to reopen the Strait of Hormuz under temporary arrangements. The White House said Israel was also party to the truce. 

Under the ceasefire terms, Iran and Oman would coordinate shipping access and could levy transit fees on vessels passing through Hormuz, a critical artery for roughly one-fifth of global oil flows.

The reopening of the strait would free approximately 130 million barrels of crude oil...

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