President Donald Trump has said that a deal with Iran, including an agreement to reopen the Strait of Hormuz, was expected to be signed on Sunday.

Oil prices dropped on Sunday after President Donald Trump said an agreement with Iran had been reached and the United States would end its naval blockade on the country.

Under the agreement, the key Strait of Hormuz waterway will be reopened, US President Donald Trump said.

The US and Iran said they reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for 60 days of negotiations on the fate of the country’s nuclear program.

Iran's World Cup experience is less joyful amid war with host US, team captain says before debut - Iran captain Mehdi Taremi says his team is having a challenging World Cup experience amid the multifold disruptions caused by the tensions created by their nation’s ongoing war with the co-host U.

Kai Trump, left, and UFC President and CEO Dana White looks on before a Motorsports athlete and stunt performer does a motorcycle jump ahead of the UFC Freedom 250 fights on the South Lawn of the White House, Saturday, June 13, 2026, in Washington. (AP Photo/Alex Brandon, Pool)

By Parisa Hafezi DUBAI, June 14 (Reuters) - A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and U.