Oil prices slid as Strait of Hormuz traffic picked up after the U.S.-Iran deal signing. Yet Fed rate-hike odds surged as the inflation threat winds down.

US-Iran peace deal reopens Strait of Hormuz, pushing crude oil prices down and setting expectations for lower gas prices. Bitcoin also rallies toward $74K.

Oil prices slipped to a three-month low on Monday after US President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to…