U.S.-Iran interim peace agreement

The U.S.-Iran interim peace agreement has reopened the Strait of Hormuz, causing crude oil prices to fall by four percent to $74 a barrel. President Trump claimed the war is proceeding well with Iran making concessions, though Iran's Foreign Ministry denies this. Gas prices remain steady at $3.93 a gallon, up 32% since the war began. Trump later met with NATO Secretary-General Mark Rutte, emphasizing the alliance's importance and Iran's nuclear restrictions.

Oil prices fell 4% to $74 a barrel following the U.S.-Iran interim peace agreement, which reopened the Strait of Hormuz. President Donald Trump claimed Iran is making concessions, including accepting UN nuclear inspectors, though Iran's Foreign Ministry denies this. Gas prices remain steady at $3.93 a gallon, up 32% since the war began.

Oil prices fell 4% to $74 a barrel as the U.S.-Iran interim peace agreement reopened the Strait of Hormuz, reducing global oil prices by 40% from wartime peaks. President Trump claimed Iran made concessions, including accepting UN nuclear inspectors, though Iran denied this. Gas prices in the U.S. remain at $3.93 per gallon, up 32% since the war began.