- The U.S. and Iran have a tentative deal to extend the ceasefire 60 days and reopen the Strait of Hormuz, but it still needs sign-off from both sides.
- Reopening the strait would restore international shipping (Iran would clear mines, the U.S. would ease its naval blockade) — oil dipped and gas prices eased on the news.
- The memorandum sets a framework for broader talks on Iran’s nuclear program (including handling enriched uranium), though key details and political approvals remain unresolved.
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