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Live Updates: Trump says U.S. will continue blockade after Iran says Strait of Hormuz "completely open" CBS NewsOil prices plunge after Iran says Strait of Hormuz open for commercial shipping traffic Fox BusinessIran declares Strait of Hormuz open to shipping but Trump says U.S. blockade still active CNBC
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About seven weeks after the start of the conflict in the Middle East, Iran announced on Friday that a crucial maritime passageway for seaborne oil was "completely open" for commercial vessels — but only as long as the Lebanon-Israel cease-fire agreement is in effect.
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The reopening of the Strait of Hormuz on Friday sent a wave of relief through oil markets, knocking crude prices down to their lowest levels since the early days of the U.S.-Iran conflict.
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Stock Market Today: Dow up 1,000 points, stocks hit session highs, as Trump tells reporter Iran 'agreed to everything' MarketWatchStock market today: Dow rises, S&P 500 and Nasdaq notch fresh records as war resolution hopes grow Yahoo FinanceS&P 500 on Pace for Third Record Close in a Row WSJDow Jones Futures Rise, Oil Prices Fall On Trump's Iran Comments; Netflix Dives Investor's Busine
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But analysts said it was not clear how quickly the oil industry in the Persian Gulf would be able to get back to normal.
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Federal Reserve governor Chris Waller said the surge in oil prices tied to the Iran war and lingering effects from U.S. tariffs could "lead to a more lasting increase in inflation," potentially forcing the central bank to eschew further interest-rate cuts.
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Dow rallies 900 points, S&P 500 tops 7,100 for the first time after Iran declares Strait of Hormuz open: Live updates CNBCOil plunges 13%, Dow soars 1,000 points after Iran says Strait of Hormuz is ‘completely open' during ceasefire CNNIran foreign minister: strait of Hormuz now ‘completely open' to commercial vessels The GuardianIran reopens Strait of Hormuz, but Trump says blockade on Iranian ships and ports will stay in force AP News
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Asian stocks lower and oil falls after Wall Street sets another record on ceasefire hopes AP NewsAsia markets mostly fall as fragile Middle East ceasefire tempers sentiment CNBCAsian Stocks Advance on U.S.-Iran Deal Hopes WSJJapanese stocks hit new high as AI boosts tech heavy Asian markets Nikkei Asia
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Friday's statements raised investors' hopes that oil and gas would start moving out of the Persian Gulf in significant volumes again.
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A prolonged shutdown of a key oil route is choking jet fuel supply, forcing Europe to scramble for alternatives.
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