News Desk - The international community has reacted positively as the United States and Iran reached a tentative agreement to end their 107-day war, with Pakistan and Qatar leading the applause for the agreement as a crucial step towards peace and lasting tranquillity in the Middle East region. The preliminary deal, described by diplomats as a memorandum of understanding, marks a potential turning point after more than three months of stop-start negotiations and bouts of fighting that began in late February.

Pakistan's Prime Minister Shehbaz Sharif, who played a key mediating role in the negotiations, confirmed that "both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon," praising the agreement as a breakthrough for regional stability. Qatar, another crucial mediator in the peace process, similarly applauded the tentative deal as a significant step towards establishing lasting peace and tranquillity in the Middle East, emphasizing the importance of the agreement in preventing further escalation of the conflict. The deal commits Tehran to forgo the development or acquisition of nuclear weapons in exchange for helping reopen the strategically vital Strait of Hormuz and the paced release of assets frozen overseas, according to President Trump's announcement.

The global market response has been dramatic, with Asian stocks rallying Monday while oil prices tumbled following the agreement, as investors welcomed the prospect of peace in the Middle East and the reopening of the Hormuz Strait. By 8:27 p.m. ET, U.S. crude oil futures for July delivery dropped 4.77%, settling at $80.83 per barrel, while Brent crude traded approximately 4% lower at $83.77 per barrel as the global financial community celebrated the end of the costly war. European Commission President Ursula von der Leyen hailed the deal as ending the "costly war," while the G7 leaders meeting in France have identified discussing next steps on Iran as a key part of their summit focus.

As world leaders react to the tentative U.S-Iran peace deal, the international community's positive response underscores the significance of ending the 107-day conflict that has strained global energy supplies and maritime security. The agreement's success will depend on whether Iran honors commitments to relinquish its highly enriched uranium stockpile and whether the deal represents permanent peace rather than just a temporary cessation of hostilities.