Hundreds of vessels remained at a standstill in the Strait of Hormuz on Monday as the United States and Iran reached an initial agreement that would extend their shaky ceasefire and lead to the reopening of the strait. According to Associated Press details of the deal, which would potentially allow desperately needed oil and natural gas to reach the global market through the critical waterway, were not immediately released. Iran signaled implementation would not start until the signing, which key mediator Pakistan said would take place Friday in Switzerland. The closure of the Strait of Hormuz has roiled international markets and sent prices of fuel and other essential goods, including food, spiraling.
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