Stocks Jump, Oil and Dollar Ease on Middle East Peace Hopes The news of potential peace in the Middle East has sent shockwaves through global markets, causing stocks to surge and oil prices to plummet.
The Strait of Hormuz, a critical waterway that carries one fifth of the world's oil and liquefied natural gas shipments, may soon be reopened.
Investors are optimistic about the potential deal between Iran and the United States, but they should not get too carried away.