World leaders have welcomed the announcement of a preliminary ceasefire agreement between the United States and Iran, a move expected to restore international shipping through the strategically vital Strait of Hormuz and ease tensions in the Middle East.

The ceasefire deal, which is scheduled to be formally signed later this week, would allow the reopening of the Strait of Hormuz, a critical route for global oil exports. However, many details of the agreement remain unclear, with officials from both sides yet to release the full terms.

International leaders described the breakthrough as an important first step toward regional stability and the protection of global trade routes. The Strait of Hormuz handles a significant portion of the world's oil shipments, and its reopening is expected to reduce concerns over energy supply disruptions.

Financial markets reacted positively to the news. Oil prices fell sharply following the announcement, while stock markets around the world rallied as investors welcomed signs of de-escalation in the region.

US President Donald Trump celebrated the development on social media, posting: "Ships of the world, start your engines!"