NewzOn Tuesday, a top United States official expressed optimism that an agreement to reopen the vital Strait of Hormuz would be finalized "today or tomorrow." US Treasury Secretary Scott Bessent announced the projection during an interview with broadcaster CNBC.
The announcement had an immediate impact on global energy markets, sending oil prices tumbling. The downward pressure on prices was driven by market optimism regarding the prospect of increased shipping activity and restored flow through the strategic waterway.
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