Iran announces a ceasefire and fully opens the Strait of Hormuz, causing international oil prices to plunge approximately 13%. Iran’s Foreign Minister Abbas Araqchi stated that all commercial vessels may now pass freely, and Trump also noted that Iran has pledged not to close the strait in the future. In response, market concerns over geopolitical risks quickly eased, with Brent crude falling to around $86 and U.S. crude dropping to just above $80—the largest single-day decline since early April. https://t.co/KaXPVsXP1P
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