Investors welcomed a last-minute cease-fire agreement that halted strikes on Iran and allowed vessels carrying oil to pass through the Strait of Hormuz. This deal ended a 90-minute standoff with President Trump’s deadline for Iran to accede to his demands or face devastation. The US will suspend strikes for two weeks, while Iran lets tankers and ships through this vital waterway.
Source: https://www.nytimes.com/2026/04/08/business/oil-stocks-gas-prices-iran.html