'Let the oil flow!' Trump urges ships to start engines as Strait opening nears. How to bet even bigger on America now

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President Donald Trump announced (1) Sunday that the United States and Iran have reached a peace agreement, declaring the Strait of Hormuz open and authorizing the removal of a U.S. naval blockade.

"I hereby fully authorize the toll free opening of the Strait of Hormuz and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade," Trump wrote on Truth Social (2). "Ships of the World, start your engines. Let the oil flow!"

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Pakistan Prime Minister Shehbaz Sharif said the accord would include Lebanon and calls for the immediate and permanent termination of military operations across all fronts. A formal signing ceremony is expected Friday in Switzerland.

The announcement follows months of conflict that rattled energy markets and raised concerns about potential disruptions to one of the world's most important oil shipping routes.