US and Iran agree to a conditional two-week ceasefire

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The US and Iran have agreed a two-week ceasefire to allow time for talks on a plan to end the war. President Trump announced the pause late last night, ninety minutes before his deadline for Iran to reopen the Strait of Hormuz. Iran's Foreign Minister, Abbas Araghchi, has said the waterway will now be reopened for shipping traffic. We get reaction from both the United States and Iran. We take a look at Pakistan's role in negotiating the ceasefire. And look at how the oil markets have been reacting to the news. Presenters: Andrew Peach and Anne Soy. (Photo: Iranians wave flags during a demonstration following the announcement of a two week ceasefire. Credit: Abedin Taherkenareh/EPA).