Trump says Strait of Hormuz will open Friday

President Donald Trump said the Strait of Hormuz will be “fully opened" by Friday as the U.S. and Iran look to formalize a memorandum of understanding, but questions remain about the specifics of the deal. The text of the MOU has not yet been made public, though Trump says he’ll release it. Officials expect to open the strait, lift the U.S.’ naval blockade and lead to negotiations over Iran’s nuclear program over a 60 day period. Oil prices fell Tuesday for a second day in the wake of officials stating the MOU was signed, with a formal ceremony expected to take place later. “The ships are starting to move nicely. Oil is starting to go, and the prices are coming down rapidly,” Trump said. Brent crude oil prices dropped more than 4%, remaining under $80 a barrel after a high above $100 a barrel earlier in the conflict. The national average for a gallon of regular gas dropped to $4.04, down more than 45 cents from a month ago, according to AAA. ------------------------------------- Follow Scripps News on other platforms— Join our newsletter at https://bit.ly/2q1tepr Follow us on Facebook:   / scrippsnews   Follow us on X: https://x.com/scrippsnews Follow us on Instagram:   / scrippsnews   Follow us on TikTok:   / scrippsnews