Special Edition: Iran deal

A U.S.-Iran peace framework sends oil down around 4% and lifts equity futures, but analysts caution that physical supply disruptions, insurance costs, and unresolved leverage questions mean relief for energy markets could be slow to materialize. The deal lands just as central banks in Washington, Tokyo, and London prepare for a busy week of rate decisions.

Today’s recommended read: Fragile Iran deal offers oil relief, but Hormuz risks remain, Ron Bousso

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest