U.S. and Iran Near Deal to Reopen Strait of Hormuz, Impacting Global Oil Supply
The U.S. and Iran are reportedly close to a deal that could end the war and reopen the Strait of Hormuz, a key oil transit route. The closure has reduced global oil supplies by over 14 million barrels per day. News of the potential agreement has already caused energy prices to drop significantly.
Topics: energy supply geopolitics oil markets Strait of Hormuz U.S.-Iran relations