Officials from the United States and Iran announced reaching an agreement on Sunday, 15 June, that would conclude their conflict and reopen the Strait of Hormuz.

Currently, the agreement remains a framework and is scheduled to be formally signed on Friday, 19 June, in Switzerland.

The deal calls for the immediate and permanent cessation of military operations on all fronts. Media reports mentioned there would be 60 days to put the remaining details in place after the signing.

In addition, the agreement calls for reopening the Strait of Hormuz and the full lifting of the naval blockade within 30 days.

Meanwhile, US President Donald Trump said on social media that the waterway would reopen on Friday, 19 June, alongside the signing ceremony.

Trump also said he had authorised the end of the US blockade of Iranian ports and the toll-free opening of the strait.

Despite this development, Lloyd's List reports that vessel traffic over the weekend had not yet resumed.

Industry stakeholders remain cautious about whether the strait would reopen as planned.

A complete return to normal shipping transits would likely occur gradually.