Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz
NEW YORK (AP) — Oil prices sank Wednesday, and stock markets rallied worldwide with hopes that the United States and Iran are nearing a deal to allow ships to deliver crude from the Persian Gulf once again to their customers. The price for a barrel of Brent crude oil, the international standard, fell 7.8% to $101.27, down from more than $115 early this week. It dropped as President Donald Trump said the Strait of Hormuz could be "OPEN TO ALL" if Iran accepts a reported agreement that the U.S. president did not detail. The small strait has caused big trouble for the global economy ...