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Latin Times
Latin Times
Politics
S. H. Lee

U.S.-Iran Agreement Imminent — Strait of Hormuz Expected to Reopen, Oil Prices Set to Fall

WASHINGTON, DC - MAY 11: U.S. President Donald Trump delivers remarks at a 'Rose Garden Club' dinner for National Police Week in the Rose Garden at the White House on May 11, 2026 in Washington, DC. Trump hosted leaders of various law enforcement organizations in honor of officers fallen in the line of duty. (Credit: Photo by Kevin Dietsch/Getty Images)

President Donald Trump announced on Saturday that a peace agreement with Iran has been "largely negotiated," signaling what could be the beginning of the end to one of the most disruptive military conflicts of the decade — a war that has rattled global energy markets, strained supply chains, and pushed inflation to levels not seen in years.

The announcement, made via a post on Truth Social, came after a wide-ranging phone call with leaders from Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Türkiye, Egypt, Jordan, and Bahrain — a coalition of regional powers that have played a central role in mediating the 84-day conflict. Trump also confirmed a separate call with Israeli Prime Minister Benjamin Netanyahu, which he described as going "very well."

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