Iran and the United States signed a preliminary ceasefire agreement allowing the Strait of Hormuz to reopen for commercial shipping, with Iran waiving all passage fees for a 60-day negotiation period and requiring ships to submit applications 48 hours in advance. The reopening was confirmed by a spike in vessel transits, with 25 commercial ships passing through on Thursday—the highest daily count since mid-April and more than five times the early-June average.