The US and Iran finalized a peace agreement to end their war, reopen the Strait of Hormuz, and establish a permanent ceasefire.A formal signing of the memorandum is scheduled for June 19 in Geneva following mediation by Pakistan and Qatar.Global markets reacted positively to the announcement, with oil prices dropping as nations prepare for normalized shipping.Negotiators will address unresolved nuclear program issues and the enriched uranium stockpile over a 60-day period.