US Treasury Secretary Scott Bessent says oil prices could drop rapidly once an agreement is reached with Iran to reopen the Strait of Hormuz.

A potential US-Iran deal to reopen the Strait of Hormuz is already moving oil prices and Bitcoin as markets price in easing energy costs and macro tailwinds.

A potential US-Iran deal to reopen the Strait of Hormuz could ease oil prices and boost Bitcoin, while Iran's crypto transit fees reshape global trade.

Oil prices plunged Wednesday on rekindled hopes for progress in US-Iran talks aimed at ending the war in the Middle East.

Commercial shipping would be restored to pre-war levels in key waterway under proposed deal