While Americans celebrate falling oil prices, the tenuous US-Iran peace agreement in the Persian Gulf remains the single largest risk for markets in the second half of the year, according to Oxford Economics chief global economist Ryan Sweet. Since the US and Iran signed a memorandum of understanding (MOU) to end the war and, in theory, reopen the Strait of Hormuz, oil prices have plunged by more than 20%, and equities have rallied. Futures on international benchmark Brent crude (BZ=F) now trade near $72 per barrel, while those on US WTI crude (CL=F) trade below $69 a barrel. Those prices have put renewed vigor into ... (full story)