The Strait of Hormuz will reopen within a month, and the American Navy will leave the region according to an unofficial agreement.

According to information provided by the Iranian state press, the Strait of Hormuz, a crucial route for the transport of 20% of the world's oil, will reopen within a month. The agreement stipulates that Iran will restore commercial maritime transport, while the United States will lift the naval blockade.

The Iranian state television mentioned that a final agreement, which could be approved by the United Nations Security Council, could be reached within 60 days. Following this news, the price of Brent oil fell by 3.7%, dropping below 96 dollars per barrel.

In this context, U.S. President Donald Trump will meet with his cabinet to discuss the next steps, following Iran's accusations of violating the ceasefire. The U.S. has previously attacked Iranian military vessels in the strait, accusing them of hostile activities.