The agreement to re-open the Strait of Hormuz has been met with swift relief in markets. But some traders worry the rally in stocks and drop in oil prices might be overdone.
Gas prices have dropped below $4 a gallon and stocks are near record highs after the Strait of Hormuz reopened.
But analysts warn that markets may be pricing in too much optimism about the fragile 60-day negotiation period.
Traffic through the strait remains minimal and substantial risks could still disrupt oil flows in coming months.
AI-generated summary was reviewed by a CNN editor.
New York —
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