What I Learned From the Past 107 Days (opens in new tab)

We have an Iran deal. We think. Since President Trump and Iran announced the arrangement on Sunday afternoon, its details have had a Heisenbergian quality — not even Israeli leaders seem to be sure what they are. From an energy markets standpoint, Trump told The New York Times on Sunday that the text guarantees “permanently toll-free” access to the Strait of Hormuz, but it remains unclear how and when the waterway will reopen.What we do know is that some version of the deal is set to be signe...