The US and Iran have agreed on the text of a memorandum of understanding to end the war. Pakistan’s PM Shehbaz Sharif, the chief mediator, called the text “final” and “agreed upon.” A senior US official put the odds of signing at 80 per cent within days. The terms reopen the Strait of Hormuz and extend the ceasefire 60 days. Brent fell 3.4 per cent to $…
