Oil prices fell 5% after the US and Iran agreed to reopen the Strait of Hormuz and temporarily waive sanctions on Iranian crude exports.

"The Deal with the Islamic Republic of Iran is now complete," Trump said in a Truth Social post.

Crude oil prices fell over 4% to their lowest levels in over three months.

Oil prices dropped significantly as President Trump and Iran's deputy foreign minister announced an initial deal to end the war and reopen the Strait of Hormuz. The agreement,…

Interim accord to ease supply crunch that has gripped energy markets since February