WS #10079

The dominant signal remains the US-Iran peace deal, now signed and with the full text released. Multiple sources (Axios, NBC, Al Jazeera, NYT) confirm the MOU signing, with Trump touting the deal and the administration releasing the agreement text. However, a new counter-signal has emerged: Iran has stated it will not return to prewar conditions and will charge ships to transit the Strait of Hormuz after a 60-day toll-free period. This dampens the bullish oil-supply thesis. Oil prices are falling (Brent below $79, WTI at $75.82) as the IEA forecasts a supply glut next year. Separately, Micron (MU) closed +2.8% after RBC Capital raised its price target by $675, citing stronger-than-expected datacenter demand through Q3. China's tech-focused STAR50 index rose over 3%. The narrative arc on the US-Iran deal is STABLE but with a new counter-signal on Hormuz tolls.