The US and Iran are nearing a significant peace agreement to end a three-month conflict and lift a naval blockade, with potential signing expected in the coming days.US President Donald Trump has suspended planned military strikes as negotiators finalize terms regarding the Strait of Hormuz and future nuclear program discussions.This development has already influenced global oil prices while mediators from Pakistan and Qatar continue to facilitate communication between the two governments.Final terms of the memorandum of understanding include a sixty-day window to address nuclear concerns once both parties execute the digital signing.