Oil prices drop 9% and Wall Street rallies to a record after Iran reopens the Strait of Hormuz
Rising costs hit working families hardest while Washington debates spending priorities.
Source: ABC Columbia
1 min read
People work on the floor at the New York Stock Exchange in New York, Monday, April 13, 2026. (AP Photo/Seth Wenig) NEW YORK (AP) — Oil prices dropped back to where they were in the early days of the Iran war, and U.S. stocks raced to another record Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude
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