For years, the threat of a big war hung over every family's budget. Now, a sudden handshake might change everything.

WHAT HAPPENED

President Trump and leaders in Iran reached a deal on Sunday. They agreed to stop the armed fight and open the world’s most important oil path.

The two sides have been at odds for a long time. This new deal looks to end the tension right away.

The news made stock markets go up around the world. It also caused the price of oil to drop fast.

What the evidence shows

The Strait of Hormuz reopens this Friday.

• Oil prices dropped right after the news.
• A formal signing event happens Friday in Switzerland.
• Global markets saw a big rise.
• Iran gets no money until they follow the rules.

THE BIGGER QUESTION

Is this a lasting peace or just a quick fix? We have to wonder if a deal made this fast can truly solve decades of hate.

If the goal was just to lower gas prices, the peace might not last. But if both sides are tired of war, this could be a real turning point.

WHAT HAPPENS NOW

Gas prices should drop at your local pump very soon. This makes life cheaper for everyone who drives a car or buys goods.

The formal signing will take place in Switzerland this Friday. After that, we will see if both sides keep their word.

WHAT WE STILL DON'T KNOW

Will Iran actually stop its nuclear work?

• What specific rules must Iran follow to get paid?
• How will other countries in the region react?