IEA chief Fatih Birol welcomes the US-Iran interim deal but demands the Strait of Hormuz fully reopen within 60 days as oil prices drop and Bitcoin rallies.

The US and Iran reached an interim deal to reopen the Strait of Hormuz, easing oil supply fears. Bitcoin rallied 2% to $65,800 on the news.

Oil and gas flows through the Strait of Hormuz may take months to recover even if the U.S.-Iran deal is finalized.