Trump Says Iran Deal Signed, Strait of Hormuz Reopened
US President Trump announced that the Iran deal has been signed and the Strait of Hormuz is fully reopened, causing oil prices to fall and stocks to rise.
President Donald Trump stated on Monday that the agreement with Iran has been formally signed, and the strategic Strait of Hormuz is now completely open for maritime traffic. He made the remarks shortly after arriving in Evian, France, for the G7 summit.
The President added that the news is driving oil prices lower while stock markets are gaining. The Strait of Hormuz is a critical chokepoint for global oil shipments, and its reopening signals a de-escalation of tensions in the region.
Source: FXStreet Forex News