Iran partially reopens Strait of Hormuz. What’s next for oil price?

Five weeks into a war that has sent oil prices soaring and left global shipping in disarray, Tehran just blinked. At least for one country. Iran announced on April 5 that it is exempting one of its closest neighbors from the Strait of Hormuz restrictions that have strangled global energy supplies since the U.S. and Israel launched their war on Iran on February 28, according to Al Jazeera. Iran’s Khatam al-Anbiya Central Headquarters said restrictions would only apply to “enemy countries.” “Brotherly Iraq is exempt from any restrictions we have imposed on the Strait of Hormuz,” Iran’s military spokesman said...