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Politics
Oil prices fall, Wall Street hits record as Iran reopens Hormuz
April 18, 2026
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Posted 2 hours ago by
Oil prices fall, Wall Street hits record as Iran reopens Hormuz Oil prices fell sharply and Wall Street rallied to a record after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude, Associated Press reported. The SP 500 jumped 1.2 Friday, while the Dow Jones Industrial Average rose by as many as 1,100 points before closing up about 870 points, or 1.8.
Oil prices dropped about 9, returning to levels seen in the early days of the Iran war. A more unrestricted flow of oil could take pressure off gasoline prices as well as groceries and other goods, easing costs tied to energy and transport, the report said.
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