President Donald Trump announced an interim deal to reopen the Strait of Hormuz and end the conflict with Iran would be signed on Sunday, though Iran contradicted this claim due to differing key points.

How this affects you

A resolution to the conflict could significantly impact global shipping and energy markets by reopening a critical waterway and potentially easing sanctions on Iran, while also addressing concerns about Iran's nuclear program. However, disagreements on key terms and internal opposition on both sides suggest a fragile path forward for peace.