U.S., Iran sign Versailles accord as fragile ceasefire opens 60-day talks window

The United States and Iran signed an agreement at France’s Palace of Versailles, reaching a fragile ceasefire. Cargo traffic has cautiously resumed through the Strait of Hormuz, easing pressure on oil supplies and pushing crude prices lower. In the United States, retail gasoline prices have fallen by nearly $1 a gallon in a week. The deal includes a 60-day negotiating window, but Hezbollah’s attack on Israeli forces and Israel’s retaliatory airstrikes have already eroded trust.