President Donald Trump is trumpeting the "great deal" he has made with Iran, claiming it will bring "peace and security" to the entire region.

He also confirmed the deal will be signed on Friday, claiming that oil will flow from "both ends of the region" after the Strait of Hormuz is opened when the agreement is signed. The oil flow is linked to mine removal, he claims.

"With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!" Trump wrote on his social media platform.

-ABC News' Isabella Murray

President Donald Trump said in a post on social media Sunday that the United States and Iran have reached a deal, opening up the Strait of Hormuz.

"I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade," Trump wrote.

"Ships of the World, start your engines. Let the oil flow!" he added.

Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed the deal had been finalized and said it would be signed in Switzerland on Friday.

"All of our positions and important issues are included in the draft understanding," Gharibabadi said in a statement to Iranian state media.

The U.S. and Iran's comments came after Pakistan Prime Minister Shehbaz Sharif announced the peace deal was made. "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon," Sharif wrote.

The Israeli military announced on Sunday that it had killed a senior Hezbollah commander in a "precise strike in southern Lebanon."

Israeli military officials said the Hezbollah commander, identified as Ali Musa Daqduq, was killed south of the Litani River on Friday.

Israel Defense Forces (IDF) said Daqduq held a series of senior positions within the Hezbollah terrorist organization and served "as a source of knowledge with extensive operational experience."

"His elimination constitutes another significant blow to Hezbollah’s senior chain of command by eliminating one of the most prominent operatives responsible for terrorist activity against Israeli civilians, IDF soldiers, and American service members," the IDF alleged in a statement.

In recent years, the IDF said Daqduq played a central role in advancing terrorist attacks and combat operations against Israel and IDF soldiers.

-ABC News' Jordana Miller

The Israel Defense Forces said in a post to X on Sunday that it conducted a new strike on the Lebanese capital Beirut, targeting what it called Hezbollah "infrastructure" in the southern Dahiyeh area of the city.

In a statement, Israeli Prime Minister Benjamin Netanyahu said the strike was "in response to Hezbollah's firing into Israeli territory. Israel will not tolerate firing into its territory."

-ABC News' Jordana Miller

President Donald Trump said that negotiations with Iran are ongoing and that he could have an agreement or "at least an idea by one or two days from now."

"I think it's going well," Trump said, claiming that for now, the blockade of Iranian ports continues to hold "100%."

"We have a good chance of doing it," the president said of a potential deal. "We should be able to do it in one hour if you want to know the truth. I don't think there are any sticking points. I think we're very...close to having a very, very good, strong, powerful deal."

Trump also said that further military action is possible, but suggested that a deal is preferable.

"If we go and bomb, which we can do very easily, if we want, and we spend another two or three weeks bombing, they'll have nothing left whatsoever, but you won't have the Strait open for months. If we do the bombing, you know a lot of people are going to be killed. Who wants to do that? I know, and we'll get, we'll have a signed document that's actually stronger than doing the bombing," Trump said.

Trump also said he "can't blame" Israeli Prime Minister Benjamin Netanyahu for retaliating against Iran after the recent resumption of direct strikes between the warring parties.

Iran launched missiles toward Israel on Sunday in what it said was retaliation for Israeli strikes on the Lebanese capital Beirut, where the Israel Defense Forces said it was targeting the Iran-aligned Hezbollah militia.

Trump said he had "a very good conversation" with Netanyahu. "He was hit, and he hit back."

"Now they've called it quits, so they're gonna just leave each other alone for another week or something," Trump added. "We're in the final throes of what will be a very, very good deal that will not allow in any way, shape, or form nuclear weapons, etc," Trump said.

Trump said he told Netanyahu to stop striking because he wants to get a peace deal. "I said, 'Do what's right, but I want you to stop as quickly as you can,' because they have to stop. It's had to do with Lebanon, and it has to stop. We want to get it finished."

-ABC News' Isabella Murray