genai / news / / The Economic Times
U.S. and Iranian forces clashed in the Gulf, dimming hopes for a quick resolution to the Middle East conflict and a reopening of the Strait of Hormuz.
President Trump announced a three-day Russia-Ukraine ceasefire from May 9-11 including prisoner swaps.
KEY POINTS
- Each side agreed to exchange 1,000 prisoners as part of the ceasefire arrangement.
- Recent U.S.-Iran clashes in the Gulf heightened fears over the Strait of Hormuz reopening.
- Brent crude oil rose 1.8% to $101.80 per barrel amid supply concerns linked to global conflicts.
COMPANIES
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