US-Iran deal allows Tehran to immediately sell oil upon signing, says US official
AI Summary
Following negotiations, the U.S. and Iran reached a limited ceasefire accord reopening the key Hormuz shipping strait and extending their existing truce for 60 days. Trump, celebrating his 80th birthday, announced the pact and scheduled a signing ceremony for next Friday in Switzerland. Markets initially surged but quickly moderated; while oil prices have begun declining, complete recovery to pre-war pricing is expected to take months or years given ongoing supply disruptions and the unresolved nuclear question.
WASHINGTON, June 16 - The U.S. will allow Iran to immediately begin selling oil and fuel under the memorandum of understanding the two sides reached to end the war, a senior U.S. official said on Tuesday. ...
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