U.S. sanctions on Iranian oil and ships waived for 60 days, causing Brent prices to drop by 2-3%.

The US-Iran memorandum lifts oil sanctions waivers, enabling Iran to resume exports worth $60B annually. Oil prices drop 4-5% as markets react.

Iranian supertankers have switched on their transponders, after going dark during the war, as they depart the region loaded with oil.