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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.
COMPANIES
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