MAERSK CEO: THE OIL SUPPLY CHAIN IS DEEPLY DISRUPTED BUT THE TRADE WE DO IS LESS IMPACTED

WTI CRUDE FALLS OVER 3% INTRADAY; BRENT CRUDE DROPS NEARLY 3%

Iran and the U.S., with mediators, are working on a one-page, 14-point memorandum of understanding to establish a 30-day framework for renewed negotiations that could resume as early as next week in Islamabad, people familiar said. Discussions cover suspension of Iran’s uranium enrichment, sanctions relief, and arrangements over the Strait of Hormuz. Proposals include a possible 12–15 year enrichment pause followed by limits at 3.67% and potential overseas transfer of highly enriched stockpiles, though key issues remain unresolved.