Bloomberg — 2026-05-24#

Lead Story#

The US and Iran are closing in on a peace deal that would reopen the Strait of Hormuz, with President Donald Trump touting an imminent agreement and Secretary of State Marco Rubio citing “significant progress” in recent hours. The diplomatic breakthrough is already easing global market pressures, sending oil and European gas prices lower while US stock futures climb. The easing tensions are visible on the water, as tankers—including a liquefied natural gas shipment for India and Iraqi crude bound for China—have begun tentatively crossing the blockade lines.