DOE: Strait of Hormuz safe-passage deal won’t cut fuel prices

(FILES) This handout natural-colour image acquired with MODIS on NASA’s Terra satellite taken on February 5, 2025 shows the Gulf of Oman and the Makran region (C) in southern Iran and southwestern Pakistan, and the Strait of Hormuz (L) and the northern coast of Oman (bottom). The US president sent a peace plan to Iran as he voiced optimism on March 25, 2026 at ending nearly a month of warfare, with Tehran announcing that it will let "non-hostile" oil vessels go through the crucial Strait of Hormuz. Oil prices dropped sharply and stocks in Asia rose on broader de-escalation hopes following nearly four weeks of war, as the US president appeared to be ramping up efforts to bring an end to his joint military operation with Israel.
Photo courtesy of NASA Earth Observatory / AFP.







