US and Iran Sign Peace MOU as Crude Prices Fall to Critical Level

Crude prices have tumbled nearly 25% following a US-Iran memorandum of agreement that halts hostilities for 60 days while a full deal is finalised. The analysis weighs a bullish case (the MOU doesn’t instantly create new barrels) against a bearish case (markets have already priced in sanctions relief), suggesting a fair price could be around the low US$80s for WTI.