Oil drops 11%, Dow soars 900 points after Iran says Strait of Hormuz is ‘completely open’ during ceasefire
By John Towfighi, CNN (CNN) — Oil prices dropped sharply and US stocks surged Friday after the Iranian foreign minister said the Strait of Hormuz will be “completely open” for commercial transit during the remainder of the ceasefire. Brent crude, the global benchmark, fell 11.2%, to just below $88.25 per barrel. WTI, the US benchmark, The post Oil drops 11%, Dow soars 900 points after Iran says Strait of Hormuz is ‘completely open’ during ceasefire appeared first on KTVZ.
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