Hormuz ceasefire sparks oil drop and global market relief
TL;DR Summary
Oil prices fell after Iran announced the Strait of Hormuz would be fully open for the ceasefire, with Brent crude around $88 a barrel (down from above $98), triggering a broader market rally as traders returned to the view that key supply routes would be less disrupted.
- Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire BBC
- Iran declares Strait of Hormuz open to shipping; Trump says U.S. blockade still active CNBC
- Exclusive: Trump says Strait of Hormuz fight is 'over,' calls it a 'victory' USA Today
- Oil drops 11%, Dow soars 900 points after Iran says Strait of Hormuz is ‘completely open’ during ceasefire CNN
- Iran says Strait of Hormuz to reopen amid push to end war The Washington Post
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