A high-ranking official from the US government has verified that the preliminary memorandum of understanding with Iran mandates the nation to eliminate all naval mines from the Strait of Hormuz within a month and forbids Iran from charging fees on shipping activities in the waterway. The Strait has been shut since early March, affecting 20% of global oil trade and 20% of LNG. US gasoline reserves have declined for 15 straight weeks. The Pentagon and Iranian forces engaged in exchanges of strikes as recently as May 31, creating doubts about the stability of the final agreement.
