Oil Tankers Make Dash Toward Hormuz as Iran Says Strait Is Open
Bloomberg Television·2026-04-17 20:45
Iran says it's reopening the Straight of Hormuz, at least for now. The move comes during a 10-day ceasefire between Israel and Hezbollah in Lebanon, and it's a big deal. About 1/5if of the world's oil and natural gas flows through that narrow stretch of water.With shipping set to resume, markets reacted fast. Oil prices dropped sharply with Brent crude plunging more than 10% to around $89 a barrel and stocks moved higher as fears of supply disruptions eased. The street had been effectively shut following US ...