Daily Brief: Apr 07, 2026

Event: US–Iran provisional ceasefire announced; Strait of Hormuz to reopen

Places: US · Iran · Gulf

Key Facts

**US and Iran agreed to a conditional two-week ceasefire** announced by President Trump via Truth Social
Ceasefire is conditional upon Iran reopening the [[Strait of Hormuz]] — a strategic waterway carrying ~20% of the world's oil supply
Iran's Foreign Minister Abbas Araghchi confirmed Iran would pause counter-attacks and provide safe passage through the strait
Trump stated the deal because "we have already met and exceeded all military objectives"
**Oil prices plunged, stock markets rallied** on relief that Hormuz shipments could resume
Dollar weakened on the news

[[The Guardian: US and Iran agree to provisional ceasefire — Apr 7 2026|https://www.theguardian.com/us-news/2026/apr/07/trump-iran-war-ceasefire]]
[[BBC: Oil prices plunge and shares jump on US-Iran ceasefire plan|https://www.bbc.com/news/articles/c8r40y3rv75o]]
[[Reuters: Trump announces two-week ceasefire as Iran says talks to begin soon — Apr 7 2026 live blog|https://www.reuters.com/world/iran-war-live-tehran-rejects-ceasefire-deal-trumps-deadline-reopen-strait-hormuz-2026-04-07/]]
[[Wikipedia: 2026 Iran war ceasefire|https://en.wikipedia.org/wiki/2026_Iran_war_ceasefire]]