US, Iran near breakthrough on one-page memo to end war

The United States and Iran are nearing a breakthrough on a one-page memorandum of understanding to end the war, with US President Trump signaling a de-escalation. The proposed memo would include Iran committing to a moratorium on nuclear enrichment and the US lifting sanctions and easing restrictions on the Strait of Hormuz. Oil prices have plunged due to the prospect of an end to the conflict.