Markets are breathing a sigh of relief that the shaky US-Iran ceasefire survived the long weekend and progress is being made on a potential deal to end the war.
Despite progress in US-Iran ceasefire talks, analysts warn gas prices could still hit $5 this summer.
The Strait of Hormuz remains closed, and experts say reopening will take months even after a deal.
More than 1.2 billion barrels of oil have been disrupted since the start of the war, and pre-war prices are unlikely to return soon.
AI-generated summary was reviewed by a CNN editor.
New York —
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