Oil Stabilizes Near $80 as US-Iran MOU Eases Market Stress

Oil prices have settled near $80 per barrel after the US-Iran memorandum of understanding soothed geopolitical supply fears through June 19. The framework, announced June 14 with formal signing scheduled in Switzerland, reopens the Strait of Hormuz over 30 days and suspends sanctions on Iranian exports during a 60-day ceasefire. Global equities rallied and yields fell as the risk premium unwound, though analysts note depleted inventories and lingering execution risks may keep prices from falling further.