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According to various Times reports and even an Iranian media agency, the Strait of Hormuz has been closed again.
This follows Israeli strikes in Lebanon. White House Press Secretary Karoline Leavitt says they are looking into the reports and noted that there was an uptick in traffic through that waterway.
Press Secretary Karoline Leavitt has downplayed the reports and says that President Trump that’s been told privately that the Strait is indeed open. Leavitt also announced that a negotiating team including VP JD Vance will head to Pakistan for negotiations this weekend.
Investors seemed happy with the deal between the US and Iran earlier on Wednesday.
The Dow opened up more than 1,300 points on Wednesday morning following the announcement of the deal to pause the fighting between the two countries. That is an increase of nearly 3%. There have also been gains on the S&P 500 and the NASDAQ.
While stocks have gone up, oil prices have come tumbling down. After getting close to the $120 a barrel mark earlier in the week prices are settling in at around $93 a barrel. Iran agreed to re-open the Strait of Hormuz and according to reports, ships have been passing through the waterway.