Oil prices drop 9% and Wall Street rallies to a record after Iran reopens the Strait of Hormuz

Apr 17, 2026 - 17:00
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Oil prices drop 9% and Wall Street rallies to a record after Iran reopens the Strait of Hormuz
Oil prices dropped back to where they were in the early days of the Iran war, and U.S. stocks raced to another record Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude from the Persian Gulf to customers worldwide.

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