Iranian oil exports to resume after US-Iran deal
The US and Iran have agreed to a 60-day memorandum of understanding, extending their ceasefire and reopening the Strait of Hormuz.
The deal allows for the immediate release of frozen Iranian assets and temporary sanctions waivers, enabling Iran to export oil.
Oil prices have shed over 7% across two sessions, sliding to fresh three-month lows, as markets price in the return of Iranian barrels.