Data: Financial Modeling Prep; Chart: Ben Geman/AxiosOil prices dropped over 10% Friday after President Trump and Iran's foreign minister claimed the Strait of Hormuz — the world's most critical energy shipping lane — is open for transit.Why it matters: The steep selloff signals traders see a real sign that the unprecedented throttling of oil and petroleum…
But analysts said it was not clear how quickly the oil industry in the Persian Gulf would be able to get back to normal.
At least eight oil tankers raced toward the Strait of Hormuz in the hours after Iran’s foreign minister said the vital waterway was fully open to shipping.
Iran announced that the critical global shipping lane known as the Strait of Hormuz is “completely” open after being mostly closed since the war between the U.S. and Iran broke out earlier this year. “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period…
President Trump headlined a rally for Turning Point USA with Erika Kirk in Phoenix on Friday. His goal is to fire up Republican voters ahead of the midterm elections. Caitlin Huey-Burns has more details.
Peace between Iran and the United States has seemingly taken a step forward as Iran has moved to reopen traffic on the Strait of Hormuz. The post NEW: Iran Caves, Declares Strait of Hormuz “Completely Open” for All Commercial Ships – Trump Responds appeared first on The Gateway Pundit.
U.S. stock market explodes, up more than 2% following announcement
President Donald Trump and Iranian Foreign Minister Seyed Abbas Araghchi announced Friday that the Strait of Hormuz was officially open. Trump took to Truth Social to thank…
The Strait of Hormuz is open again. But don’t get comfortable.
