News Summary at 3:22 a.m. EDT

An initial agreement to end the war between the United States and Iran calls for Tehran to dilute its stockpile of highly enriched uranium and would waive sanctions, immediately allowing Iran to sell its oil freely. The accord would also open the Strait of Hormuz toll-free for two months and affirm a commitment to Lebanon's territorial integrity amid Israel's invasion against Hezbollah. Both the U.S. and Iranian presidents have signed the deal, and Iran released a parallel version of the agreement. The memorandum was described to reporters on Wednesday as talks continued toward formalizing the settlement.