Markets Move After U.S.-Iran Deal to Reopen Strait of Hormuz

President Donald Trump announced a deal with Iran on Sunday. The deal would reopen the Strait of Hormuz and end months of fighting. Oil prices fell more than 4 percent and Brent crude was $84.21 per barrel. Stock markets rose after the news.

Many people hope that lower oil will help petrol prices, but changes will not be fast. The reopening needs mine clearing and repairs, and experts say supplies could take months to return to normal. People who buy fuel may not see lower prices right away. Families and businesses will watch the market closely. The deal included a 60 day ceasefire and more talks are planned.