The reported deal would halt U.S. military operations, lift the naval blockade from Iranian ports and set the stage for talks over sanctions, frozen assets and nuclear limits. Pakistan’s prime minister said the agreement followed talks involving Washington and Tehran, while the signing was expected in Switzerland.

The breakthrough immediately calmed oil markets, but it did not settle the wider conflict. Israel struck Hezbollah targets in Beirut’s southern suburbs after projectiles were fired into northern Israel, while Iran and Hezbollah continued to link any broader peace to a durable ceasefire in Lebanon.