Stock markets surged and oil prices plummeted after Washington and Tehran reached a deal to reopen the Strait of Hormuz, though analysts voiced caution over the agreement’s prospects.
US President Donald Trump said ships could traverse the waterway within days and would not be charged a toll, but a Senate ally warned that “Iran’s view of the agreement seems different.”
Commerzbank’s chief economist said in a note to clients that he anticipated “occasional setbacks,” while a prominent DC expert described the agreement as “perhaps, the end of the beginning.” An executive told the Financial Times he was “pessimistic” about the prospects for any deal, with the outlet noting that clearing the strait’s oil-and-gas backlog could take weeks.