Amid ongoing negotiations, the US and Iran are managing expectations for a final deal or memorandum of understanding. President Trump's rhetoric on bargaining has influenced oil prices, highlighting the complex issues surrounding the Strait of Hormuz and Iran's nuclear program.

Three months into what was originally billed as four-week war, is an end really in sight? Donald Trump's messaging on bargaining with Iran was enough to push Brent crude oil below $100 a barrel for the first time in two weeks. Both Washington and Tehran are managing expectations of a final deal or "memorandum of understanding".