US, Iran Prepare for Deal Signing With Both Claiming Victory (3)

The US and Iran are preparing to formally sign their interim peace deal in Switzerland on Friday, with both sides claiming victory and oil traders and shippers unsure over how quickly the Strait of Hormuz will be reopened.

The text of the so-called memorandum of understanding — a 14-point document that should lead to a two-month ceasefire extension and the start of negotiations over Iran’s nuclear program — has yet to be published.

Iran will get an upfront sanctions waiver under the deal allowing the country to start selling oil immediately, though longer-term relief will depend on its adherence to ...