U.S. crude oil falls nearly 5% after Trump says U.S. and Iran complete deal to open Strait of Hormuz

President Trump said the Iran deal is "now complete," with the Strait of Hormuz set to reopen without a toll system and the U.S. ending its naval blockade of Iran. The announcement implies a meaningful de-escalation in Middle East tensions and removes a major shipping chokepoint risk. That should be supportive for global energy and freight markets, though the exact terms of the deal are not provided.

Analysis

President Trump said the Iran deal is "now complete," with the Strait of Hormuz set to reopen without a toll system and the U.S. ending its naval blockade of Iran. The announcement implies a meaningful de-escalation in Middle East tensions and removes a major shipping chokepoint risk. That should be supportive for global energy and freight markets, though the exact terms of the deal are not provided.