The United States and Iran are reportedly discussing a Memorandum of Understanding (MOU) regarding the de-escalation of tensions surrounding the Strait of Hormuz and limitations on Iran's nuclear program, signaling a potential improvement in relations. President Trump indicated a high probability of reaching an agreement before his China visit, demonstrating a strong commitment to resolving the crisis. The potential for sanctions relief and the release of frozen funds is anticipated, amid rising oil prices and the upcoming US midterm elections.