Oil relief trade waits on signatures

Brent held around $87.50 and WTI near $84.5 after Trump's weekend-signing claim pulled crude lower, but Tehran still had not publicly approved final MOU text and shipping receipts had not yet proven a Hormuz reopening.

Why this matters. Markets are discounting a reopening before signatories and maritime channels confirm it; if the text slips or Hormuz receipts stay thin, the relief trade can reverse before physical supply normalizes.