Oil prices have fallen to levels seen before the Iran conflict, as OPEC+ agreed to raise output by 188,000 barrels per day starting next month and the Strait of Hormuz — previously shut by Iran — has reopened, according to reports. Meanwhile, the U.S. Strategic Petroleum Reserve has dropped to its lowest point since 1883. Last week, U.S. envoy Steve Witkoff and Jared Kushner traveled to Qatar to discuss ending the war with Iran. In a post on TRUTH Social, President Donald Trump stated he was authorizing the strait’s toll-free passage and ending the U.S. naval blockade, which was a retaliatory action against Iranian ports. Trump’s call for global shipping to proceed comes as diplomatic efforts continue.