Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal

Donald Trump stated the Strait of Hormuz would be "open to all" if Iran accepts a deal ending the war, while threatening intensified bombing if Tehran refuses; the Islamic Revolutionary Guard Corps Navy responded Wednesday that safe transit would be ensured under new procedures. Oil prices fell sharply—Brent crude dropped 11% to $97 a barrel—as markets rallied on reports the White House was nearing a one-page memorandum of understanding with Iran on nuclear talks, though Trump maintained the blockade of Iranian ports would continue.

Based on full article · updated 42m ago