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business/news//Barchart
Global stock indexes are soaring today, with the S&P 500, the Dow Jones Industrial Average, and the Nasdaq 100 posting 4-week highs.
The US and Iran agreed to a two-week ceasefire and Iran will reopen the Strait of Hormuz.
KEY POINTS
Crude oil prices plunged over 17% to a 1.5-week low after the ceasefire announcement.
The ceasefire plan allows Iran and Oman to charge fees on ships transiting the Strait of Hormuz.
Over 800 vessels are trapped in the Persian Gulf, with over 1,000 waiting to transit the strait.
The International Energy Agency reports over 40 energy sites in nine countries are severely damaged.