News Summary

• The deal is scheduled to be formally signed Friday in Switzerland.
• Iran's Supreme National Security Council says the deal was reached "following a difficult and intensive period of negotiations lasting several months" The agreement extends the current u.s.-Iran ceasefire for 60 days.
• Iran has effectively controlled the Strait of Hormuz since shortly after the war began on Feb.
• 28, virtually shutting down the vital passage for around 20% of the world's oil.
• It's not clear what happens if agreement is not reached during the 60 days of negotiations.