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BREAKING: Markets are moving higher after the U.S. and Iran reached a preliminary agreement to end nearly 4 months of conflict.
The deal has not been signed yet, but both sides have paused military action and are expected to sign it Friday in Geneva.
The Strait of Hormuz, a key route for global oil shipments, is also expected to reopen.
For markets, this matters because lower war risk usually means less pressure on oil prices, inflation, and global growth.
This is a major de-escalation if the deal holds.