- Prediction markets priced in a Strait of Hormuz reopening after Trump paused Iran strikes, signaling lower oil prices.
- Trump said he suspended planned military strikes because negotiations could soon reopen the Strait of Hormuz, a vital artery for global oil shipments.
- The Iran war had driven large short-term profits for oil companies and sharp volatility in crude prices.
Quotes
“We’re kind of firing on all cylinders, which is good, because the world needs it”