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The deal follows weeks of mixed messaging from both Washington and Tehran on the trajectory of the conflict.
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After enduring months of conflict, ordinary people in Iran were relieved to hear about the deal. Opposition groups were disappointed.
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Israelis across the political spectrum have said the agreement appears to leave fundamental security threats posed by Iran unaddressed.
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Asian tech stocks surged Monday on news that Iran and the U.S. have reached a peace deal
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Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.
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An initial deal to end the war and open the Strait of Hormuz was expected to be signed this week.
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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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