Some follow the noise.

Bloomberg follows the money, whether it's the funds fueling AI or crypto's trillion

dollar swings.

There's a money side to every story.

Get the money side of the story.

Subscribe now at Bloomberg.com.

So a report just came in from, is it Kobashi letters? Is that the one that you have, Rob? Kobashi letters. I keep thinking Kobashi is like the one from the usual suspects when he's saying something at the end. So breaking, this just happened a few minutes ago, maybe an hour ago. Iranian state media announces initial details of memorandum on understanding for the U.S. Iran peace deal, initial details of the deal per Iran, U.S. military forces will withdraw from vicinity of Iran.

The U.S. Navy will lift its blockade of Strait of Hormuz.

Iran has committed to restoring the number of commercial transit ships through Strait of Hormuz,

two pre-war levels within one month.

Iranian state media says military vessels are not included in this draft.

The management of routing of ship traffic through the Strait of Hormuz will be handled by Iran in cooperation with Oman.

If a final deal is reached within 60 days, disagreement will be approved in the form of a binding U.N. Security Council council resolution U.S. oil prices extend losses

to drop below $89. You notice one word wasn't mentioned in any one of those. And what is that one

word? Uranium. That's right. I didn't see it one time there. Now, that's them saying that. We've heard

it from our rent on what's going to happen.

Oil prices right now, if you go back to that, 8980, hasn't been prices like that since April 13th.

I thought that was a day, Tom?

April 17th, it got down and also got down on March 23rd.

But every other point in there, we've been 90 to 108.

So yeah, every day we're hearing, well, it's going to be this,

well, it's going to be that. And I have the reports here of the dates going back and forth on how the deal was taking place, which I'll get to that here in a minute. I've got to find what Pager was on, which one minute is like, yeah, we got the deal. Oh, we don't have the deal. Oh, they're doing this. Oh, they're doing that.

...