Oil Prices Steady as Hormuz Standoff Unfolds

0:00Wall Street caught a relief rally overnight, riding high on that two-week piece deal in the Middle East. Major index is climbed between half a percent and a tenths, as investors breathe easier on the ceasefire news. Oil prices edged up a few percentage points over the last 12 hours, but they're holding steady below $100 a barrel. Energy traders keep a sharp eye on the straight of Hormuz, that vital shipping lane, staying in the spotlight. Prices on the street are reacting with cautious optimism, dialing back some war jitters that had markets on edge. The peace agreements buying time, but broader economic ripples from the region still loom large. Now report surface that Iran might be slapping fees as high as $2 million on tankers passing to Hormuz. President Trump jumped on true social, firing off a direct warning to knock it off. He posted they better not be charging and stop immediately if they are. With oil steady and eyes glued to the straight, this standoff could sway the next market moves. This has been Sydney News Today, powered by AI.

1:02I'm Corey with the story.