Oil prices ease and markets rally as Trump works towards deal with Iran
US president briefly pauses ‘Project Freedom’ operation escorting ships through strait of Hormuz Business live – latest updates Oil prices have eased and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, while momentum in AI-driven trading accelerated. The US president said he would briefly pause his “Project Freedom” operation escorting ships through the strait of Hormuz, which carries about a fifth of the global oil supplies and has been block
Markets rally as US president announces ‘short’ pause to operation escorting ships through strait of Hormuz
Business live – latest updates
Oil prices have fallen below $100 and stock markets rose as Donald Trump touted “great progress” towards a “final agreement” with Iran, and Tehran indicated it was ready to reopen the strait of Hormuz.
The US president said he would briefly pause his “Project Freedom” operation escorting ships through the strait, which carries about a fifth of the world’s oil supplies but has been blockaded by Iran since late February, triggering a global energy crisis.
Coverage from 5 sources
- Oil prices ease and markets rally as Trump works towards deal with IranGuardian - World · Lauren Almeida and agencies · May 6, 2026, 6:54 AM
- Oil prices ease and markets rally as Trump hails ‘great progress’ towards deal with IranGuardian - World · Lauren Almeida and agencies · May 6, 2026, 6:54 AM
- Oil prices fall to $100 a barrel as Trump hails ‘great progress’ on Iran dealGuardian - World · Lauren Almeida and agencies · May 6, 2026, 6:54 AM
- Oil prices fall below $100 a barrel as Trump hails ‘great progress’ on Iran dealGuardian - World · Lauren Almeida · May 6, 2026, 11:29 AM
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