Oil prices dropped and stocks rose on Monday after the United States and Iran reached an agreement that President Trump said would reopen the Strait of Hormuz.<\/p>\n
Mr. Trump\u2019s social media post<\/a> capped weeks of fraught negotiations between the countries that, at times, seemed to make little progress. Pakistan’s prime minister, a key mediator in the peace talks, said that the agreement covered fighting between Israel and Lebanon and that a signing ceremony<\/a> was scheduled for Friday in Switzerland.<\/p>\n The specifics of the agreement remained unclear, but restoring shipping through the strait, the strategic passageway that functions as the primary artery for oil and natural gas from the Middle East, has been among Mr. Trump\u2019s top priorities.<\/p>\n \u201cI hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,\u201d Mr. Trump posted online. \u201cShips of the World, start your engines. Let the oil flow!\u201d<\/p>\n The removal of the U.S. blockade \u2014 which was intended to stop the flow of Iranian oil \u2014 is just one piece of restoring shipping through the narrow waterway on Iran\u2019s southern coast. Iran would also need to relinquish its control over ship traffic. The country\u2019s deputy foreign minister, who confirmed the deal, said Iran\u2019s commitments under the accord would begin on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"Oil prices dropped and stocks rose on Monday after the United States and Iran reached an agreement that…\n","protected":false},"author":2,"featured_media":267336,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[98,100,99,5292,14670,9,24,63,5007,5291,61873,1724],"class_list":["post-267335","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-fees-and-rates","tag-iran","tag-new-york","tag-new-york-city","tag-nyc","tag-oil-petroleum-and-gasoline","tag-prices-fares","tag-standard-poors-500-stock-index","tag-stocks-and-bonds"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/267335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=267335"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/267335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/267336"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=267335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=267335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=267335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}