Iran Announces Open Strait of Hormuz, Trump Claims Iran Agrees to Indefinite Nuclear Program Suspension
Oil prices fell sharply after Iran's foreign minister stated the Strait of Hormuz is fully open during the 10-day ceasefire, and President Trump claimed Iran has agreed to indefinitely suspend its nuclear program. Brent crude and WTI crude futures dropped over 10% before recovering slightly, with both benchmarks opening the week above $100.
Topics: geopolitical tensions Iran nuclear program oil prices Strait of Hormuz Trump administration