Hormuz Strait to stay free long term
The United States and Iran have reached a preliminary agreement to end the war in the Middle East and reopen the Strait of Hormuz, without imposing long-term fees, with assurances that the strait will remain open and that Iran will receive its frozen funds. The final details are still being finalized, and the agreement is expected to be signed in Switzerland, amid international welcome and a roughly 5% drop in oil prices.
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