Oil Flows Resume Through Strait of Hormuz After Signed Agreement

Oil shipments through the Strait of Hormuz resumed after a memorandum of understanding was signed, sending prices lower and easing pressure on financial markets. U.S. stocks and bonds recovered from the previous session's losses as traders shifted focus away from expectations of tighter monetary policy.

The dollar advanced on yen weakness, which in turn weighed on gold and bitcoin prices. Options expiration removed some market stabilizers ahead of the long weekend. A presidential statement posted on a social media platform noted the return of oil flows and market gains.