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Strait Deal Could Slash Gas Prices
Description
A major breakthrough could reshape global energy markets as Iran agrees to a ceasefire and reopen the Strait of Hormuz — a vital chokepoint for 20% of the world’s oil — brokered by Pakistan and former President Trump. While the deal signals peace between Iran, the U.S., and Israel, key hurdles remain: operations won’t start until Friday, full functionality may take up to 30 days, and Iran’s role in managing the strait — including potential tolls — is still unclear. The agreement ends the U.S. blockade on Iranian ships and could slash gas prices by $1 per gallon, injecting $1 billion into the economy. Immediate efforts focus on clearing mines, with insurers like Lloyds watching for safe passage before fully covering tankers. This is just the first step — future talks will tackle nuclear materials and frozen assets — all aimed at securing global energy and regional stability.
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