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  • Oil prices ease and markets rally as Trump works towards deal with Iran Lauren Almeida and agencies
    US president briefly pauses โ€˜Project Freedomโ€™ operation escorting ships through strait of HormuzBusiness live โ€“ latest updatesOil prices have eased and stock markets rose as Donald Trump touted โ€œgreat progressโ€ towards a โ€œfinal agreementโ€ with Iran and the rally in AI shares stepped up.The US president said he would briefly pause his โ€œProject Freedomโ€ operation escorting ships through the strait of Hormuz, which carries about a fifth of the worldโ€™s oil supplies but has been blockaded by Iran sin
     

Oil prices ease and markets rally as Trump works towards deal with Iran

6 May 2026 at 06:54

US president briefly pauses โ€˜Project Freedomโ€™ operation escorting ships through strait of Hormuz

Oil prices have eased and stock markets rose as Donald Trump touted โ€œgreat progressโ€ towards a โ€œfinal agreementโ€ with Iran and the rally in AI shares stepped up.

The US president said he would briefly pause his โ€œProject Freedomโ€ operation escorting ships through the strait of Hormuz, which carries about a fifth of the worldโ€™s oil supplies but has been blockaded by Iran since late February, triggering a global energy crisis.

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ยฉ Photograph: Jeon Heon-Kyun/EPA

ยฉ Photograph: Jeon Heon-Kyun/EPA

ยฉ Photograph: Jeon Heon-Kyun/EPA

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