Trump announces Iran deal to reopen Strait of Hormuz

President Trump announced a deal with Iran late Saturday that would reopen the Strait of Hormuz and end Iran's nuclear programme. The strait carries about 20 percent of the world's oil, and Iran had kept it closed for five months. Trump posted the announcement on social media without telling Israel or US military commanders first. Iran said no formal deal has been reached. Under the agreement, Iran will allow ships to pass freely for 60 days. US petrol prices had climbed to $4.10 per gallon after the strait closed. Trump also called off a planned military strike on Iran about 24 hours before it was due to happen. Saudi Arabia's Crown Prince had urged Trump to choose talks over military action. The deal gives Iran tens to hundreds of billions of dollars in benefits.