US-Iran Sign Interim Deal - What Happens Next in Hormuz?

Summary

The US-Iran interim peace deal begins, with focus on resuming shipping through the Strait of Hormuz and a 60-day nuclear negotiation period. Wayne Sanders, Bloomberg Intelligence defense analyst, says the early lack of IRGC backlash is a positive sign, but Israel will pressure the US against any enrichment. Talks are expected to be rough and could be extended. For oil markets, he suggests watching whether the strait reopens to allow stock replenishment, as both sides have incentive to alleviate supply pressure.

• US-Iran interim deal takes effect with focus on Strait of Hormuz shipping.
• Wayne Sanders notes no backlash from IRGC so far, a positive early signal.
• 60-day talks on nuclear program are complex and likely to be extended.
• Israel opposes any uranium enrichment by Iran and will pressure the US.
• Both US and Iran see upside in allowing oil shipping through the strait.
• Oil markets should monitor strait reopening and stock replenishment progress.