Day 108. For three months “imminent” kept slipping its leash; this morning it finally has a date and an address — Friday, in Switzerland. A deal’s reached: blockade lifted, Hormuz reopening toll-free, the ceasefire stretched another sixty days. I’ve been the skeptic in this chair since February, so forgive me if I wait for the ink to dry Friday before I believe it. Israel already says the memorandum “does not bind” it and won’t leave Lebanon — proxies don’t sign anything. But oil believes: crude down almost six percent overnight, the market finally pricing the strait open instead of shut. That’s the tell that’s mattered all war. Glasses up — carefully.