Economy

Oil prices slide as Hormuz ceasefire takes hold

Oil markets immediately priced in the ceasefire news, with prices sliding sharply as investors anticipated the resumption of energy flows through the Strait of Hormuz — the chokepoint for roughly a fifth of the world's oil supply. Stocks surged in tandem, reversing days of war-driven volatility. New Zealand had already asked the US to deploy fuel tankers to the Pacific, a sign of how badly the closure was hitting supply chains far from the conflict.

MarketStrait of Hormuz traffic returns to normal by end of April?

Strait of Hormuz traffic returns to normal by end of April?39% chance

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