00:00a deal to reopen the Strait of Hormuz, and end the U.S.-Iran conflict, is on the table but not
00:06yet
00:06signed. U.S. and Iranian negotiators have reached a tentative memorandum of understanding that would
00:13extend the ceasefire by 60 days, demine and reopen the Strait, and set up a framework for
00:19nuclear negotiations. But the agreement hit a snag over the weekend. When the U.S. and Iran
00:25exchanged military strikes, Washington carried out what it called self-defense strikes after Iran
00:32shot down a U.S. drone. President Trump then sent back the draft, with requests for stronger nuclear
00:38language. Iran's foreign ministry said, the two sides remain both very far and very close,
00:44a sign of how fragile negotiations are. The deal's first major impact could be gas prices.
00:50U.S. gasoline has remained above $4 per gallon since the Strait closed in early March.
00:57If the Hormuz is demined and reopened within 30 days, as the proposal suggests,
01:03energy analysts expect prices to fall significantly. The next 72 hours are critical.
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