Trump Reopens Strait Of Hormuz, Oil Prices Crash

Oil prices fell sharply and global stocks surged Monday after President Donald Trump announced that the United States and Iran have reached an agreement to reopen the Strait of Hormuz, the strategic passageway that serves as the primary artery for oil and natural gas from the Middle East. Trump posted on social media that he is "fully" authorizing the toll-free opening of the Strait and the immediate removal of the U.S. Naval blockade that had been put in place to halt the flow of Iranian oil. Pakistan's prime minister, who helped mediate the talks, said the agreement also covers Lebanon, with a signing ceremony scheduled for Friday in Switzerland. Iran's deputy foreign minister confirmed the deal and said Iran's commitments would begin Friday. Brent crude, the global benchmark, fell nearly 5% to around $83 per barrel — still above the roughly $73 level seen before the first U.S.-Israeli strikes on Iran on February 28. West Texas Intermediate fell to around $81, compared with about $67 just before the war. S&P 500 futures pointed to a roughly 1.2% gain at the U.S. open. Europe's Stoxx 600 climbed about 1% into record territory. South Korea's and Japan's benchmark indexes jumped about 5%, and Taiwan rose nearly 3%. U.S. drivers, however, are not seeing immediate relief. The national average for gasoline held at $4.07 per gallon on Monday, according to AAA — up about 37% since the war began. Diesel slipped slightly to $5.20, up roughly 39% over the same period. Gasoline prices typically trail crude moves by several days. #OilPrices #StraitOfHormuz #IranDeal 🖥️ Try Benzinga Pro FREE with a 14 day trial: https://www.benzinga.com/pro/register 📈 Take your trading to the next level with our suite of premium research services and tools: https://www.benzinga.com/services 🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets. 📲 Follow us on socials @benzinga ------------------------------------------------------------------------------------ 🔹Free Benzinga Webinars: https://www.youtube.com/watch?v=LQ2jOJNkDfI&list=PL4k0fH8EgI3YTdqniRmxrvz97w3IQ61rD 🔹Benzinga Pro Tutorials: https://www.youtube.com/watch?v=a2FaHhLIrks&list=PL4k0fH8EgI3YMwoBMFXGvVMkgixFymmei&pp=gAQB 🔹Earnings Calls: https://www.youtube.com/watch?v=C2-AoCw64Ok&list=PL4k0fH8EgI3buZI5529R53wJUNd9NS4_s 🔹Premarket Playbook: https://www.youtube.com/playlist?list=PL4k0fH8EgI3ZVRPM7INpG--GvohnBVTnT 🔹Benzinga's All Access: https://www.youtube.com/playlist?list=PL4k0fH8EgI3bQSn91atO-3lPT4V6Nwsmh 🔹Subscribe To The Channel: https://www.youtube.com/@Benzinga ------------------------------------------------------------------------------------ ⚠️ Disclaimer: Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes. #StockMarket #StockMarketNews #Trading #StockMarketLive #Stocks #stocktrading #learntotrade #DayTrading #StockMarketToday