The Strait Of Hormuz May Be Open, But It's Not Necessarily Smooth Sailing For The Economy [Yahoo! Finance]
StoneX Group Inc. (SNEX)
Company Research
Source: Yahoo! Finance
Key Takeaways The economic damage from the Iran war is likely to continue even after the announcement of the Strait of Hormuz reopening on Friday, economists said. Crude oil prices fell but remained well above prewar levels, and are expected to decline only gradually, keeping upward pressure on gasoline and other prices. Progress in restoring the economy to normal depends on the success of peace talks between the two warring nations. The economic costs of the Iran war could linger long after the Strait of Hormuz reopens to commercial shipping traffic, economists said Friday. Iran's announcement that the crucial shipping lane was open to commercial traffic came as a relief to financial markets, with major stock indexes ripping higher and oil prices falling on the news. Brent crude oil, the international benchmark, fell more than 8% to over $90 a barrel as of Friday afternoon, down from its recent peak of $118 in March. However, that was still above the $65 price at the beg
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