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President Trump and VP Vance signed a memorandum of understanding with Iranian officials. Trump stated the US will next focus on resolving the Russia-Ukraine conflict. Full text to be published this week.
An LNG carrier successfully passed through the Strait of Hormuz after the U.S.-Iran deal announcement, carrying Qatari LNG to India, while most ship operators remain cautious about resuming navigation.
Oil prices fell 4% after US and Iran announced peace agreement reopening Strait of Hormuz. Brent crude dropped to $84/barrel, WTI to $81/barrel. Official signing scheduled June 19 in Switzerland.
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