What was the key provision of the U.S.-Iran memorandum of understanding regarding the Strait of Hormuz?

The memorandum of understanding signed by U.S. President Donald Trump and Iranian President Masoud Pezeshkian outlined a 14-point plan that includes 'an end to hostilities on all fronts and the resumption of toll-free traffic through Hormuz for 60 days', during which more complex issues — including Iran's nuclear program — would be negotiated.

Why did oil prices initially fall and then rise again during the week described in the article?

Oil prices tumbled early in the week — with Brent slipping below $80 a barrel — as the MoU raised expectations of reopened Strait of Hormuz shipping and potential Iranian oil returning to global markets; however, prices rose early on Friday after news broke that the scheduled peace talks in Switzerland had been cancelled, injecting uncertainty and reversing the earlier optimism.

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US-Iran Peace Deal Impacts Oil Prices Amidst Fed Policy Shift

Jun 19, 2026

A tentative U.S.-Iran peace deal reopened the Strait of Hormuz, pushing Brent crude below $80 before talks were cancelled. Concurrent Federal Reserve hawkishness and central bank rate decisions continue to influence global energy volatility and inflation expectations.

reuters

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