116 articles — keywords: Iran
Japan's Nikkei 225 also broke 65,000 for the first time as reports emerged that the Strait of Hormuz may soon reopen.
West Texas Intermediate futures fell to $91.65 per barrel Sunday after Trump said negotiations over the Strait of Hormuz are proceeding constructively.
Trump said an agreement has been largely negotiated and the Strait of Hormuz will be opened.
A fragile ceasefire has been in place since April 8, but key disputes over the Strait of Hormuz and Iran's nuclear program remain unresolved.
Secretary of State Rubio called Iran's attempt to impose tolls on the Strait of Hormuz "not acceptable" as Pakistan and Qatar push for a peace deal.
The average price per gallon reached $4.55 on Friday, the highest for Memorial Day weekend since 2022.
Global stockpiles built before the Iran war are eroding, and a summer travel demand surge could push markets into crisis by August, the IEA's executive director said.
Trump said he called off strikes that were an hour away after Persian Gulf allies cited progress in peace talks.
The yield on the U.S. 30-year Treasury bond reached its highest level since 2007 as the conflict keeps the Strait of Hormuz largely closed.
Louisiana Sen. Bill Cassidy's surprise defection allowed a resolution to halt military action in Iran to pass 50-47 in a preliminary vote.
Trump ordered the military to stay ready for a full-scale assault after Gulf leaders asked him to pause a planned strike scheduled for Tuesday.
A New York Times poll published the same day found 64% of voters believe going to war with Iran was the wrong decision.
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