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Stocks at record highs and oil dives as Iran reopens Hormuz - Newsquawk US Market Wrap

Iranian Foreign Minister says passage for all commercial vehicles via Hormuz is "completely open"; US reportedly considers $20B cash-for-uranium deal with Iran; Trump says US military blockade of Iran remains in effect; Iran says continuation of US blockade is violation of ceasefire; Fed's Waller could call for holding rates steady, Daly says rates are slightly restrictive; Shipping names express caution over mines in Hormuz; META to lay off more than 10% of workforce in 2026; NFLX guidance underwhelms

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The End Of Oil Volatility As A Weapon

Trump has his hand on the global oil spigot now… and he can turn the volatility up or down. The US is the global price setter now, like it or not...