Iran Deal Day 5: Negotiators Have a Deal, Trump Is Thinking, Gas Is $4.43

# Iran Deal Day 5: Negotiators Have a Deal, Trump Is Thinking, Gas Is $4.43

> **Quick answer:** It is Day 5 of Trump's self-declared "5-7 day" decision window. A 60-day ceasefire extension MOU has been drafted at the negotiator level — but neither Trump nor Iran's Supreme Leader has signed it. VP Vance said Thursday it is "hard to say exactly when, or if, the president's going to sign." The IRGC struck a U.S. airbase in Kuwait overnight. The U.S. counterstruck a drone station near Bandar Abbas. Brent crude reversed last week's 5% drop and sits back at $97. Your gas is $4.43/gallon on average. Three scenarios determine where that number goes in the next 72 hours.

It is Thursday, May 29, 2026. The Iran deal is technically agreed at the working level. Trump has not touched the pen. Gas prices hit a four-year high over Memorial Day weekend at $4.56/gallon, the national average has retreated to $4.43 — and the difference between $3.50 and $5.50/gallon at your pump now hinges almost entirely on what one man decides over the next two days.

## The Deal That Exists on Paper

Negotiators from the U.S. and Iran, working through Pakistan as intermediary, have drafted a 60-day memorandum of understanding. The terms, confirmed by multiple U.S. officials and reviewed by CBS News, are specific:

- The Strait of Hormuz would be designated "unrestricted" shipping with no tolls and no Iranian interference - Iran would remove all mines from the strait within 30 days - The U.S. naval blockade lifts proportionally as commercial shipping restores - Iran pledges not to pursue nuclear weapons - Formal 60-day negotiating period begins on uranium disposal and enrichment levels - Frozen Iranian funds and sanctions relief are tabled for the negotiating window, not granted upfront