Iran says it can reopen Strait of Hormuz in 7 days if U.S. eases pressure

📡 CNBC Top News 10h ago · 1 min read ·

Part of composite article Trump to Iran at UN: Make a Deal or Get 'Annihilated' View full article →

Iran has reportedly said it can reopen the Strait of Hormuz within seven days if the United States reduces its military pressure. The Strait of Hormuz is a narrow waterway in the Middle East. About one-fifth of the world's oil passes through it. When it is blocked, oil prices usually rise and global shipping is disrupted. The reports raised hopes of renewed diplomacy between the United States and Iran. U.S. stock futures were mixed, and oil prices fell.