Oil Prices Plunge as Iran Declares Strait of Hormuz Open Amid Ceasefire, Global Markets Rally Cautiously
Global oil markets experienced a significant downturn today following Iran’s declaration that the strategically vital Strait of Hormuz would be "completely open" to commercial shipping for the duration of the current ceasefire in the US-Israel war with Iran. The announcement, made by Iranian Foreign Minister Abbas Araghchi, triggered an immediate rally across major stock exchanges, […]
