The United States and Iran have reportedly made significant progress toward ending their ongoing conflict, with both sides agreeing to a preliminary peace framework, according to international media reports.

US President Donald Trump announced through his Truth Social platform that an initial agreement had been reached with Iran. Iranian officials have also acknowledged positive developments in the negotiations.

According to Reuters, the formal signing ceremony is expected to take place in Switzerland on Friday. The agreement is anticipated to reduce tensions between the two countries and contribute to regional stability.

Pakistan, which has been actively involved in mediating the negotiations, also confirmed the breakthrough. Pakistani Prime Minister Shehbaz Sharif stated that both parties had agreed to immediately and permanently halt military operations across all fronts, including Lebanon.

Iran’s Supreme National Security Council Secretariat further announced that military activities in Lebanon and other operational areas would be permanently suspended starting Monday night.

The preliminary understanding also includes discussions on reopening the Strait of Hormuz, one of the world's most critical energy shipping routes. Following reports of the agreement, global crude oil prices declined as markets responded positively to the prospect of improved regional stability and uninterrupted energy supplies.

Analysts believe the potential peace agreement could bring greater stability to international energy markets and support broader global economic growth if fully implemented.