News Summary

• Reports of a 60-day ceasefire for talks in pursuit of a ‘grand’ deal have raised hopes of a return to calm in a region convulsed by three months of war.
• Details of this ‘memorandum of understanding’ (MoU) remain under wraps.
• Even if the US and Iran lift their blockades on the Strait of Hormuz after the agreement is signed, it is far from clear that the world will respond right away to Trump’s call, “Ships of the World, start your engines.
• Let the oil flow!”