The United States and Iran are nearing the signing of a 14-item MOU outlining the principles of an end to the war and future nuclear negotiations, easing tensions in the Middle East. Following the suspension of Operation Freedom’s Sentinel by US President Donald Trump, there is growing optimism about the possibility of a breakthrough in negotiations, with the MOU including a temporary halt to Iran’s nuclear enrichment and potential US sanctions relief. This has led to a sharp drop in global oil prices and immediate market reactions, with attention focused on the outcome of the upcoming negotiations.