Oil plunges 13%, Dow soars 1,000 points after Iran says Strait of Hormuz is ‘completely open’ dur...

AI Summary

Oil prices dropped a lot on Friday. This happened after Iran said a key waterway, the Strait of Hormuz, would be "completely open" for ships. The Strait of Hormuz is a very important route for oil transport. Because the waterway is open, there is less worry about oil supplies being cut off. This led to oil prices falling by 13%. Stock markets also went up a lot.