Oil prices ease and markets rally as Trump works towards deal with Iran
6 May 2026 at 06:54
US president briefly pauses โProject Freedomโ operation escorting ships through strait of Hormuz
Oil prices have eased and stock markets rose as Donald Trump touted โgreat progressโ towards a โfinal agreementโ with Iran and the rally in AI shares stepped up.
The US president said he would briefly pause his โProject Freedomโ operation escorting ships through the strait of Hormuz, which carries about a fifth of the worldโs 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