Oil Tumbles 3% as Iran Floats Hormuz Reopening Within a Week ...Middle East

Iran has offered to open the Strait of Hormuz within seven days if the United States eases its pressure including taking steps toward ending the U.S. military blockade of Iranian ports and halting military operations in the Strait, a senior Iranian government official told Japan’s news agency Kyodo News on Tuesday. Hopes of a diplomatic breakthrough and Iran’s reported preparedness to reopen the Strait of Hormuz if the U.S. takes steps to ease the pressure sent oil prices tumbling by 3% early on Tuesday. The international benchmark,…

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