Hormuz Would Reopen One Month After Deal, Iran TV Says

AI Summary

Iranian state television reported that an unofficial draft peace deal would see the Strait of Hormuz reopen within a month and the US naval blockade cease. The announcement caused a decline in oil prices amid uncertainty surrounding US agreement details.

An unofficial draft of a peace deal says the Strait of Hormuz would return to normal within a month, according to Iranian state television. It also says the the US naval blockade would end. Oil prices fell on the news. It's unclear what the US has agreed to. Bloomberg's Tyler Kendall reports. (Source: Bloomberg)