First Move · USII Daily

USII Daily

3 editionsA morning read.

Week of 18 May — 24 May 2026

20May 2026WednesdayTODAY

Trump cancels Iran strike again — five hard conditions now on the table

Pakistan's mediators carry a 14-point memo between Washington and Tehran, but Trump's new demands — including 400 kg of enriched uranium surrendered to the US — may be designed to stall rather than close a deal.

Brent crude $112.93/bblWTI crude ~$103/bbl

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19May 2026Tuesday

Pakistan rushes to Tehran as US floats oil sanctions waiver, Hormuz still shut

Pakistan's interior minister scrambled to Tehran on May 17-18 to keep ceasefire negotiations from collapsing; Iranian semi-official media says Washington offered to waive OFAC oil sanctions during talks — a claim Washington has not confirmed — and Brent swung $9 in a single Monday session on the news.

Brent crude ~$103/bblWTI crude ~$100/bbl

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18May 2026Monday

Drone strikes UAE nuclear plant; Trump clock warning stalls Hormuz deal talks

A drone hit the edge of the Barakah nuclear power plant on 18 May; ceasefire holds nominally as Trump threatens resumed strikes if Iran does not move 'FAST' on a Hormuz framework deal.

Brent Crude $107.72/bblWTI Crude $110–112/bbl (intraday range)

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