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US, Iran reach preliminary deal to end war, signing for Friday
— US and Iranian officials claimed they had agreed on a framework for ending their war, lifting the US blockade of Iran and reopening the Strait of Hormuz. The preliminary accord sent oil prices tumbling but left the fate of Iran’s nuclear program up for further negotiations.“The Deal with the Islamic Republic of Iran is now final,” US President Donald Trump said on his Truth Social platform about 5:30 p.m. ET local time in Washington (2130 GMT) on Sunday. His post came just after Pakistani Prime Minister Shehbaz Sharif, whose country has acted as a mediator, said a settlement had been reached early Monday local time.
The agreement of understanding will be formally signed in Switzerland on Friday.
Exact terms were not disclosed immediately. Sharif wrote on X that the deal included “the immediate and permanent cessation of military operations on all fronts, including Lebanon.”
Lebanon has been a sticking point in negotiations, with Israel and Hezbollah defying appeals from Trump and others to stop their attacks on one another in recent weeks.
Iran’s Supreme National Security Council secretariat announced in a statement that war and military operations would be halted permanently on all fronts including Lebanon as of Monday night.
A 60-day truce period will be used to discuss a broader deal including removal of sanctions on Iran, said Iran’s deputy foreign minister, Kazem Gharibabadi.
The destiny of Iran’s nuclear program is another tough issue that would be discussed in those later discussions, sources previously told Reuters.
Israel, which has stated it was not involved in the US-Iran discussions, did not immediately react to the announcement.
STRAIT TO BE RE-OPENED
The Strait of Hormuz, a crucial shipping route for global oil and gas supplies Iran has essentially locked down for months, would open on Friday, Trump announced, and he had ordered the termination of the US blockade of Iranian ports.Ships of the World, rev up your engines. “Let the oil flow!” Trump wrote.
The announcement weighed on oil prices. Brent oil futures sank 4% in early trading on Monday, with US West Texas Intermediate down more than 4.6%. Asian stock markets surged.
Matt Miller, a former State Department spokesman in the Biden administration, said Trump had made significant concessions to Iran to get the status quo before his war.”We have no guarantees that the nuclear program will ever be addressed, but Iran has shown the world that it can hold the global economy hostage and get something out of the U.S. in return,” Miller said.
Since the US and Israeli forces initially assaulted Iran on February 28, thousands have died, mainly in Iran and Lebanon. Iran has attacked Israel and Gulf states with US bases and essentially blockaded the Strait of Hormuz and pushed up global energy costs. In retaliation, US soldiers have closed Iranian ports.
The Iran war is becoming a political problem at home for Trump and fellow Republicans in Congress, with opinion polls showing Americans increasingly dissatisfied by rising petrol costs ahead of the midterm elections in November. But Trump has also under pressure from members of his own party who say Iran’s nuclear program must be entirely shut down.
Republican Sen. Lindsey Graham, a major Iran hawk, applauded the deal but said he would be “watching closely” upcoming negotiations over Iran’s nuclear program.”Under our law, any nuclear deal with Iran will be subject to review and a vote by Congress,” he said. “Congratulations to everyone for getting us to this point.
In his first term, Trump withdrew the US from a multilateral Iran deal reached in 2015 by Democratic President Barack Obama, which lifted sanctions on Tehran in exchange for curbs on its nuclear program, including international inspections.
Iran retaliated by stepping up its uranium enrichment, producing more than 400 kg (about 900 pounds) of material at near bomb-grade purity. That eventual fate of the uranium is anticipated to be a crucial negotiating point in the next talks.‘A VERY HARD GUY’
The deal was struck even as an Israeli strike on Sunday on Lebanon was condemned by both Iran and Trump.
Prime Minister Benjamin Netanyahu has clashed with Trump over requests from the US that Israel curtail its military action in Lebanon to help the US to negotiate a deal with Iran.
Israel has indicated it will maintain its freedom of operations in Lebanon while Iran has made a full ceasefire there a key part of its objectives.
During a phone chat Sunday, Trump briefed Netanyahu on progress toward a peace deal, Israel’s N12 said, citing a senior official.
In an interview with the New York Times, Trump labelled Netanyahu “a very difficult guy” and said the Israeli leader should thank him for rescuing Israel from a nuclear-armed Iran.
The declaration was welcomed by leaders beyond the Middle East, who have been watching the situation with some wariness.
The United Kingdom, Germany, France and Italy said in a joint statement they were ready to relax sanctions on Iran in return for “clear, verifiable steps” to curb its nuclear program.“We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz,” stated British Prime Minister Keir Starmer. “Iran must never acquire a nuclear weapon.
Before the deal was announced, a senior Iranian source told Reuters the draft would require the United States to agree to unfreeze $25 billion in Iranian assets. The Trump administration has previously suggested any release of Iranian money would be contingent on Iran meeting specific requirements in a peace accord.
A US official indicated before of the announcement that the agreement would lead to the eventual elimination of Iran’s nuclear program, with its stockpile of highly enriched uranium destroyed and removed. The senior Iranian source said the proposed accord would allow Iran, which denies wanting a nuclear bomb, to dilute its enriched uranium on its territory.
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The PCB will host the Sri Lanka U-17 Men’s Championship bilateral series in October.
Sri Lanka U17 will travel to Pakistan next month to take part in a bilateral series against Pakistan U17, the PCB announced today. During the tour, both sides will play one three-day and five one-day matches.
All matches will be staged at the Multan Cricket Stadium in Multan from 9 to 24 October.
Sri Lanka U17 will arrive in Multan on Monday, 5 October and both sides will take part in practice sessions from 6 to 8 October at the Multan Cricket Stadium. The three-day match will then take place at the same venue from 9 to 11 October.
Following the three-day match, Pakistan U17 will play five one-day matches against Sri Lanka U17 from 15 to 24 October.
Currently, the U17 players are taking part in a Skills Development Camp, which commenced in Faisalabad on Thursday, 30 July. Earlier this year, the PCB also hosted the National U17 Cup in Faisalabad, which was won by Rawalpindi U17 Region.
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New attacks in Hormuz and Saudi test nerves as war’s spread worsens oil disruption
New strikes on Saudi Arabia and on ships in the Gulf tested nerves in the Middle East on Sunday, after an attack on a Saudi oil pipeline and an advance by Yemen’s Houthis threatened to worsen the wartime disruption to global energy supplies.
Oil traders were expecting prices to rise again when markets reopen on Monday, following the weekend developments that jeopardise supplies from the world’s biggest exporter, Saudi Arabia.
The British maritime security agency UKMTO said on Sunday that a vessel had been struck by a projectile as it moved through the Strait of Hormuz, causing a fire and forcing the crew to be evacuated. Iran, for its part, said one person was killed and four crew wounded aboard an Iranian commercial vessel struck off its coast.
In Saudi Arabia, state media released video of damage to homes and a mosque from the purported latest cross-border attack by the Houthis, in Jazan province in the south. The Houthis claimed separately to have struck a Saudi military base in a neighbouring province.
Southern Saudi cities have experienced regular alerts since last week, culminating in drone strikes on Friday that knocked out the 1,200-km (745-mile) east-west pipeline across the Arabian Peninsula that has served as the main route for global supplies of Middle East oil bypassing the Strait of Hormuz.
That same day, the Houthis captured Perim Island, which lies in the middle of the Bab El-Mandeb, the “Gate of Tears” strait that controls the mouth of the Red Sea.
U.S. DIESEL HITS ANOTHER RECORD
Oil prices surged above $100 last week for the first time since July. The politically sensitive retail price of diesel fuel in the United States rose on Sunday to another all-time high above $6.20 a gallon.
Traders and Saudi oil buyers told Reuters on Sunday that Riyadh has enough oil stored at its Red Sea port of Yanbu to maintain exports for just five to seven days if the pipeline struck on Friday remains shut.
After that, as much as 4% of global oil supply could be jeopardised, on top of the millions of barrels a day already lost to the disruption to traffic through the Strait of Hormuz.
Saudi Arabia has not given full details of the extent of damage to the pipeline or said how long it will remain offline. Sources that spoke to Reuters have given conflicting estimates for the time needed to fix it, ranging from days to weeks. Satellite images have shown huge columns of smoke from locations along the pipeline.
TALKS IN OMAN POSTPONED
After a quiet August when flows of Middle East oil trickled back up, the past two weeks have seen a steady escalation in the war that the United States and Israel launched six months ago. No peace talks have been held since an interim agreement in June collapsed after a few weeks.
In a rare diplomatic initiative, Iranian officials had said they would attend a meeting on Monday with Gulf Arab states in Oman to present an agreement they say has been reached with Oman governing future shipping routes through the strait.
But Oman’s foreign minister, Sayyid Badr Albusaidi, posted late Sunday that the regional meeting had been postponed “in the interests of consensus.”
“We remain committed to fostering dialogue that supports stability and lasting cooperation in our region,” he wrote in a post on X.
Iran’s Fars news agency cited an Iranian foreign ministry official on Sunday evening as saying that the Oman meeting was postponed at the request of some regional countries in a decision jointly made by Tehran and Muscat. The official said Iran would coordinate with Oman to determine a suitable date for holding the meeting, the agency said.
Iraq had said it would send a delegation, and a Gulf official had told Reuters that Saudi Arabia and Qatar would be represented by their foreign ministers.
A senior Iranian official had told Reuters on Saturday that officials would discuss Hormuz and other issues at the meeting, but added it would probably not yield a signed agreement to reopen the strait. Bahrain said it would not meet with any Iranians.
In an interview with London-based pan-Arab news outlet Al-Arabi Al-Jadeed, Iran’s Foreign Minister Abbas Araqchi said despite any agreement with Oman, Iran would not reopen the strait until the United States satisfies Tehran’s demands.
HOUTHI ADVANCES POSE NEW DILEMMA FOR WASHINGTON
The U.S. has so far failed to achieve the objectives President Donald Trump set out when he launched “Operation Epic Fury” in February: to end Iran’s nuclear programme, prevent it from being able to attack its neighbours and create conditions for its people to topple their rulers.
Iran, having withstood the superpower onslaught despite military and economic losses, hopes to emerge stronger than before the war, including with the newfound power to collect fees from ships that use the strait.
The attacks on Saudi Arabia and the Houthi advances in Yemen pose a new dilemma for Washington, which wants to support its Saudi allies and protect shipping but is wary of joining war on another front. The Houthi attacks have also left Gulf states with a difficult choice: accept growing economic pain or engage with Iran.
The Houthis, mountain fighters who captured Yemen’s capital in 2014, have been battling a Saudi-led coalition for more than a decade but had mostly kept out of the wider Middle East war until recent weeks. Their advance along the Red Sea coast is part of the biggest eruption of fighting in Yemen for years.
The United States bombed the Houthis for two months in 2025, but Trump halted that campaign after announcing the group had lifted a threat to attack Red Sea shipping.
Three sources told Reuters that Saudi Arabia’s de facto leader, Crown Prince Mohammed bin Salman, phoned Trump on Thursday asking for military aid to fight the Houthis, but was offered only intelligence support for now.
Trump acknowledged on Saturday that he had spoken to the crown prince, and said the Houthis had also phoned the U.S. administration, asking Washington to keep out of the Yemen war.
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Petrol hits Rs384.34, diesel reaches Rs415.83 per litre
– The PML-N-led federal government has increased the prices of petrol and high speed diesel (HSD) by Rs 4.10 and Rs 6.41 per liter respectively under the daily fuel pricing mechanism introduced in the country recently.
According to a notification issued by the Petroleum Department, the revised rates will come into effect from September 16, with petrol now priced at Rs 384.34 per liter and HSD at Rs 415.83 per liter. This recent increase comes against a backdrop of fluctuations in international oil markets and new tensions in the Middle East, which continue to impact global energy flows.
The Oil and Gas Regulatory Authority (Ogra) has also started publishing daily crude oil prices on its website as part of efforts to increase transparency and ensure that international oil price fluctuations are more quickly reflected in domestic prices. Petroleum Minister Ali Pervaiz Malik said the daily price is calculated based on the seven-day average price in the international market, which is in line with international practice.
The government had previously followed a two-week pricing cycle, but moved to weekly reviews in the wake of the escalating conflict in the Middle East.
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