Oil Retreats After U.S. and Iran Sign Interim Accord to Reopen Strait of Hormuz
Crude futures declined in early trading after the United States and Iran signed a 14-point interim memorandum that would end the Iran war, lift U.S. sanctions on Iranian oil and restore toll-free passage through the Strait of Hormuz. Brent and U.S. West Texas Intermediate both fell by more than 1% as traders adjusted to a prospect of faster-than-ex…