The agreement the U.S. and Iran are close to signing involves a 60-day ceasefire extension during which the Strait of Hormuz would be reopened, Iran would be able to freely sell oil, and negotiations would be held on curbing Iran's nuclear program, according to a U.S. official. Why it matters: The deal would avoid an escalation of the war and decrease the pressure on the global oil supply. However, it's unclear whether it will lead to a lasting peace agreement that also addresses President Trum