A 60-day U.S.-Iran memorandum of understanding expires Monday, coinciding with verified data showing vessel transits through the Strait of Hormuz at multi-month lows. Shipping volumes fell from a pre-February 28 average of 130 daily transits to a five-day average of 13, with zero transits recorded on Sunday. Oil prices showed minimal movement while separate diplomatic contacts involving Jared Kushner and Israeli Prime Minister Benjamin Netanyahu were reported.