NEW YORK — After U.S. President Donald Trump and Iran’s foreign minister said the Strait of Hormuz was fully open to commercial vessels after almost seven weeks of war, oil prices plunged 10% and the stock market rallied Friday.

Motorists, hoping for relief at the pump, wondered how quickly gasoline prices might fall once oil tankers stuck in the Persian Gulf were moving again. A gallon of regular gasoline cost $4.08 on average in the U.S. Friday, which was 37% more than before U.S. and Israel attacked Iran but down a few cents from a week ago.

kAmqFE H96? 82D AC:46D DA:<6[ E96J 5@?’E EJA:42==J 5C@A 2D BF:4<=J 2D E96 4@DE @7 4CF56] tG6? :7 xC2? <66AD E96 H2E6CH2J @A6? 😕 E96 7246 @7 2 &]$] 3=@4<256 @7 :ED G6DD6=D[ :E DE:== 4@F=5 E2<6 >@?E9D 7@C 7F6= AC:46D E@ C6EFC? E@ =6G6=D C6D6>3=:?8 E9@D6 6?;@J65 367@C6 E96 H2C 3682? u63] ag[ 6?6C8J 6IA6CED D2:5]k^Am

kAm%96 D=@H DA665 2E H9:49 @:= E2?<6CD EC2G6= 7C@> A@CED E@ C67:?6C:6D[ =:?86C:?8 D64FC:EJ 4@?46C?D[ EC277:4 😕 E96 DEC2:E 2?5 52>286 E@ 6?6C8J :?7C2DECF4EFC6 😕 E96 |:55=6 t2DE 2C6 2== A=2J:?8 2 C@=6 😕 E96 6=6G2E65 AC:46 @7 82D@=:?6]k^Am

kAm“%96 9:DE@C:42= @3D6CG2E:@? 😀 E92E 82D@=:?6 AC:46D C:D6 BF:4<=J 3FE 72== D=@H=J[ C682C5=6DD @7 E96 A2CE:4F=2C 42FD6D @7 E96 :?4C62D6[” D2:5 |2C< q2CE62F[ 2 AC@76DD@C 😕 E96 56A2CE>6?E @7 496>:42= 6?8:?66C:?8 2E %6I2D pU2>Aj| &?:G6CD:EJ]k^Am

kAm“x? E9:D 42D6[ @?6 92D E@ E2<6 :?E@ 244@F?E E96 E:>6 :E E2<6D 7@C E96 DE6AD E92E 92G6 E@ 92AA6? @?46 E2?<6CD D2:= E9C@F89 E96 DEC2:ED – 7@C 6I2>A=6[ D2:=:?8 E:>6 E@ C67:?6C:6D @? @E96C 4@?E:?6?ED[ E:>6 E@ C2>A FA C67:?6CJ @A6C2E:@?D[ 2?5 E:>6 E@ EC2?DA@CE D@>6 C67:?65 AC@5F4ED 3J E2?<6C E@ E96 4@?E:?6?E H96C6 E96J H:== 36 FD65[” q2CE62F D2:5] “%96C6 😀 2=D@ E6?56?4J E@ 96586 36ED 3642FD6 @7 5@F3ED 23@FE H96E96C 2?5 9@H BF:4<=J E92E C6DE@C2E:@? >:89E @44FC[ 2?5 H96E96C 7FCE96C 5:DCFAE:@?D 2C6 A@DD:3=6 2=@?8 E96 H2J]”k^Am

kAm}6G6CE96=6DD[ D@>6 6?6C8J 2?2=JDED H6C6 @AE:>:DE:4 E92E 82D AC:46D H@F=5 8C25F2==J 564=:?6]k^Am

kAmv2D@=:?6 AC:46D H6C6 2=C625J 72==:?8 D=:89E=J 27E6C =2DE H66<’D 2??@F?46>6?E @7 2 EH@\H66< 462D67:C6 36EH66? E96 &]$] 2?5 xC2?[ 244@C5:?8 E@ >@E@C 4=F3 7656C2E:@? ppp]k^Am

kAmu@==@H:?8 E96 $EC2:E @7 w@C>FK 2??@F?46>6?E[ @:= AC:46D 76== 3J S`_ E@ S`a A6C 32CC6=[ H9:49 86?6C2==J EC2?D=2E6D :?E@ 2 564C62D6 @7 ad @C b_ 46?ED A6C 82==@? @7 82D[ D2:5 |:4926= {J?49[ 5:DE:?8F:D965 76==@H 2E t?6C8J !@=:4J #6D62C49 u@F?52E:@?[ 2 ?@?\A2CE:D2? C6D62C49 :?DE:EFE:@? 7@4FD65 @? 6?6C8J 2?5 64@?@>:4D]k^Am

kAm“%92E 5@6D?’E 92AA6? @G6C?:89E[ 3FE H:E9:? 2 H66< @C EH@[ H6 4@F=5 36 5@H? d_ 46?ED 2 82==@? 62D:=J[ :7 E9:D 9@=5D[” {J?49 D2:5] “p?5 A2CE @7 :E :D[ E96C6’D 2 =@E @7 E2?<6CD C625J E@ 8@] p?5 :7 E96J 2== 4@>6 @FE[ E96? E92E 32=2?46D E96 >2C<6E G6CJ BF:4<=J]”k^Am

kAmx? E96 H2<6 @7 uC:52JVD ?6HD[ “6G6CJ DE2E6 H:== DE2CE D66:?8 82D AC:46 564C62D6D 2446=6C2E6 2E 2 A246 @7 AC@323=J ` E@ b 46?ED 2 82==@? 7@C 6G6CJ 52J @C EH@[” D2:5 !2EC:4< s6 w22?[ 9625 @7 A6EC@=6F> 2?2=JD:D 2E v2DqF55J[ 😕 2 H6342DE] “p?5 E92E 4@F=5 4@?E:?F6 7@C 2E =62DE 2 4@FA=6 @7 H66

kAms6w22? 6DE:>2E65 E92E E96 ?2E:@?2= 2G6C286 7@C 2 82==@? @7 C68F=2C 82D 4@F=5 C6249 Sb]cd E@ Sb]ed 3J |6>@C:2= s2J] qFE 96 24@H=65865 E92E C6EFC?:?8 E@ =@H6C AC:46D 4@F=5 E2<6 2 H9:=6]k^Am

kAm“xE >:89E E2<6 F?E:= =2E6C E9:D J62C @C 62C=J ?6IE J62C E@ C62==J 7F==J ?@C>2=:K6 2?5 7@C D@>6 @7 E96D6 DFC492C86D 2?5 :>A24ED E@ C6G6CD6 2?5 5:D2AA62C[Q s6 w22? D2:5]k^Am

kAmx7 2? 28C66>6?E E@ 6?5 E96 H2C 😀 C624965[ :E 4@F=5 E2<6 2E =62DE 7@FC >@?E9D 7@C D9:AA:?8 E9C@F89 E96 $EC2:E @7 w@C>FK E@ 8@ 324< E@ ?@C>2=[ D2:5 !2EC:4< !6?7:6=5[ AC@76DD@C @7 DFAA=J 492:? AC24E:46 2E $JC24FD6 &?:G6CD:EJ]k^Am

kAm“#:89E ?@H[ J@F DE:== 92G6 A@E6?E:2= >:?6D E92E 92G6 E@ 36 C6>@G65 @C 56E@?2E65[ J@F 92G6 @G6C `d_ E2?<6CD E92E 92G6 366? 2?49@C65 😕 2?5 2C@F?5 E96 DEC2:E[ H9:49 😀 42FD:?8 2 EC277:4 ;2>[ 2?5 H6 DE:== 92G6 D9:AA:?8 C2E6D E92E 2C6 DE:== 9:89 3642FD6 @7 =24< @7 D9:AA:?8 42A24:EJ 2?5 H2C C2E6 :?DFC2?46[” 96 D2:5]k^Am