The announcement also brought relief at market opening on Monday. Oil prices plunged more than four percent in Tokyo, and Japan’s Nikkei stock index jumped three percent. The blockade of the Strait of Hormuz has had a worldwide economic impact, from inflated gas prices that have fueled inflation in the US and many other countries and congested supply chains for goods like fertilizer key to food production in areas far beyond the Middle East. “What we’re going to be able to do is drive down
the cost of energy, not just now but for the long term, and create a real engine of prosperity in the Middle East,” US Vice President JD Vance told Fox News. He said that he planned to attend the signing of the peace deal, which was slated to take place in Geneva, and that it was possible Trump could also go. Israeli strike It was a rollercoaster Sunday, with Trump in the morning angrily blaming Israel for delaying its signing with the airstrike on Beirut,
which he said had delayed the agreement. In an expletive-laden phone interview with US news outlet Axios, Trump had fumed about Israeli Prime Minister Benjamin Netanyahu, saying: “I was so pissed off. I let him know.” The last time Israel hit the Beirut suburbs, it sparked one of the strongest jolts yet to a ceasefire that has largely held since April, with Iran firing off a retaliatory missile barrage and Israel responding with strikes.
US Iran memorandum of understanding, immediate end to military operations, Geneva peace signing, Strait of Hormuz blockade, oil prices Tokyo, Nikkei jumped, energy cost, fertilizer supply chains, Trump Netanyahu