Oil prices plunged after Iran and former U.S. President Trump declared the Strait of Hormuz “completely open,” easing fears of supply disruptions in the vital shipping route, according to SMH.com.au.
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Former U.S. President Donald Trump claimed Iran is in a “state of collapse” and expressed a desire to open the Strait of Hormuz, a critical oil transit route, amid escalating regional tensions, The Jerusalem Post reports.