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Trump says US-Iran deal could reopen Hormuz, oil at $100

5/8/2026

49 5 Full Breakdown

Summary

Story summary

U.S. President Donald Trump said a U.S.–Iran peace deal could reopen Strait of Hormuz.
Brent settled at $100.06, down 1.2% from $115.
The S&P 500 fell to 7,337.11, the Dow to 49,596.97 and the Nasdaq to 25,806.20.
Spot gold rose 1% to $4,735 while silver climbed to $81.50, up 6%.
Nikkei crossed 62,000 while MSCI Asia-Pacific index rose 1% to a high as Canada’s S&P/TSX fell 125.20 points to 33,856.62.

History

Historical Context

The 1979 Iranian Revolution and hostage crisis prompted the United States to curb Iranian oil, cutting global supply by roughly 4 % and sending Brent crude to about $40 a barrel. Trump’s remarks echo the 1979 episode, tying a prospective U.S.–Iran peace pact to reopening Hormuz and stabilizing oil prices and reviving Gulf market hopes.

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Story summary

U.S. President Donald Trump said a U.S.–Iran peace deal could reopen Strait of Hormuz.
Brent settled at $100.06, down 1.2% from $115.
The S&P 500 fell to 7,337.11, the Dow to 49,596.97 and the Nasdaq to 25,806.20.
Spot gold rose 1% to $4,735 while silver climbed to $81.50, up 6%.
Nikkei crossed 62,000 while MSCI Asia-Pacific index rose 1% to a high as Canada’s S&P/TSX fell 125.20 points to 33,856.62.

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