Ceasefire extension, oil routes and $24bn in assets await Trump’s call on Iran pact Last updated: May 29, 2026 | 16:22 AP The United States and Iran appear to have the draft text of an agreement to extend their ceasefire for 60 days and provide a framework to negotiate longer-term peace. According to US Vice President JD Vance, the document is now awaiting Donald Trump's signature. But there have been conflicting reports from sources in Washington and Tehran about what might be covered in the initial agreement -- and what is off the table. With oil prices once again dipping lower on hopes of agreement, what do we know about what might be in the document? Hormuz reopens? US sources spoke to AFP to confirm reporting on the news platform Axios that the sides have agreed a memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear programme.…