Source: U.S. and Iran closer to short memo aimed at ending war

U.S. President Trump is reportedly balancing oil market stability against diplomatic pressure by temporarily pausing the U.S. operation to guide ships through the Strait of Hormuz. The U.S. and Iran are reportedly closer to drafting a short memo aimed at ending the war, coinciding with recent diplomatic progress. This is seen as an effort to mitigate geopolitical risks.