
Oil Plunges as Iran Proposes Seven-Day Timeline to Reopen Strait of Hormuz
Crude oil prices dropped over 2% after Iranian officials proposed a seven-day timeline to reopen the Strait of Hormuz, contingent on US compliance with a June memorandum. While Tehran signaled willingness to dilute nuclear stockpiles, the US maintains a naval blockade, and regional tensions persist due to Houthi attacks and Chinese military support for Iran.









