US and Iran signal deal looms as Hormuz tensions flare

Reports suggest a potential peace deal between the US and Iran, though tensions remain high as US forces intercepted Iranian drones near the Strait of Hormuz. Officials from various nations are negotiating terms, while the situation remains volatile.
Why it matters
The potential de-escalation of conflict in the Middle East has significant implications for global oil markets and international security.
Pakistani Prime Minister Shehbaz Sharif has said that the United States and Iran have agreed to a framework for a peace deal that would end the months-long conflict in the Middle East, with a final text of the deal reached.
The article reports on conflicting claims from multiple international actors, maintaining a neutral stance on the validity of the deal.
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