Iran sends tankers loaded with oil past US naval blockade

US President Donald Trump was jubilant when he announced a preliminary deal with Iran to end the war that has brought about the worst energy crisis of modern history – and which has closed the Strait of Hormuz to world shipping.

Strait of Hormuz may reopen on Friday, but oil prices could take 8 weeks to settle

The Joint Maritime Information Center downgraded the threat level in Hormuz to "substantial" from "severe" in an advisory note published Tuesday.

The declaration of a ceasefire understanding between the United States and Iran has been predictably received with caution, suspicion, and understandable scepticism from some and a complete disregard from a few as well.