As of tonight, Tuesday, April 7, 2026, the United States and Iran have officially agreed to a two-week provisional ceasefire.
The agreement was reached just two hours before a self-imposed 8:00 PM ET deadline set by President Trump, which had threatened devastating strikes on Iranian infrastructure.
Key Details of the Ceasefire:
- The Mediator: The deal was mediated by Pakistan, specifically through Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, following intensive last-minute diplomacy.
- Main Condition: The ceasefire is contingent on Iran agreeing to the “complete, immediate, and safe opening” of the Strait of Hormuz, a critical global oil artery that has been central to the recent conflict.
- Negotiation Phase: A “workable” 10-point peace proposal submitted by Tehran will serve as the basis for formal negotiations, which are scheduled to begin this Friday, April 10, in Islamabad.
- Military Status: The U.S. military has halted all offensive operations against Iran, though defensive measures remain active. Iran’s Supreme National Security Council has accepted the terms but cautioned that this is a “suspension,” not yet a permanent end to the war.
Immediate Impact:
The news has caused a dramatic shift in global markets. Oil prices plummeted immediately following the announcement, with West Texas Intermediate (WTI) falling nearly 10% to around $96 a barrel. U.S. stock futures also saw a sharp uptick as the immediate threat of a wider regional “civilization-ending” conflict receded.
While the two-week window provides a much-needed cooling-off period, both sides remain cautious. Israel has reportedly agreed to the terms, though military alerts remain high across the region