South Korea to launch leveraged stock ETFs on Samsung, SK Hynix - Bloomberg Investing.com -- The United States and Iran are nearing an agreement that would extend their current ceasefire by 60 days, reopen the Strait of Hormuz to commercial shipping, and allow Iran to resume unrestricted oil exports, Axios reported on Saturday, citing a U.S. official. Under the proposed arrangement, the Strait of Hormuz would remain open during the 60 days, with vessels allowed to transit without tolls. Iran would also remove mines it previously deployed in the strategic waterway to restore normal shipping traffic. In return, the United States would lift its blockade of Iranian ports and grant sanctions waivers that would allow Tehran to sell oil on international markets. The draft agreement also includes commitments by Iran not to pursue nuclear weapons and to enter negotiations over suspending its uranium enrichment activities. Discussions would also cover the removal of Iran’s stockpile of highly enriched uranium. According to the report, Iranian officials have already provided verbal assurances through mediators regarding the scope of concessions they are prepared to make on enrichment and nuclear material. The proposed ceasefire extension would create a window for broader diplomatic talks between Washington and Tehran, including discussions on easing sanctions and releasing frozen Iranian assets. The Strait of Hormuz is one of the world’s most important energy transit routes, handling roughly one-fifth of global oil shipments. Disruptions to traffic through the waterway since the outbreak of hostilities have fueled concerns over global energy supplies and inflation. A reopening of the strait would mark a significant step toward restoring normal shipping flows through the Gulf region after months of conflict-related disruptions. The White House did not immediately respond to a Reuters request for comment on the Axios report.