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The announcement came hours before US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz.
The US and Iran agreed to a two-week ceasefire, potentially reopening the Strait of Hormuz.
KEY POINTS
- Iran may reopen the Strait of Hormuz as early as Thursday or Friday if talks progress.
- Crude oil prices fell below $100 a barrel on expectations of resumed energy shipments.
- Market expectations for a December Fed rate cut rose to 33.9% from 13.6% in one day.
- The S&P 500 energy sector dropped nearly 5%, with major oil stocks posting significant losses.
COMPANIES
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