Trump touts deal with Iran

US President Donald Trump said he had reached a “great settlement” with Iran that would stop the Islamic Republic from obtaining a nuclear weapon, though Tehran said nothing had been finalized. An Iranian state outlet published what it said was a draft of the agreement, saying it included negotiations over Iran’s nuclear program, the release of $24 billion in frozen assets, and the ending of Israel’s war in Lebanon, AFP reported. While oil prices slid almost 5%, the Strait of Hormuz’s closure is taking a toll: The Asian Development Bank said 15 countries were seeking emergency loans, and the World Bank cut its global growth forecast, warning of a further significant contraction if crude supplies didn’t return to pre-war levels soon.