Oil prices dropped by more than 10 percent on Friday, after Iran’s foreign minister said that the passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period. President Donald Trump announced on Friday, however, that the U.S. blockade on Iranian ports remains in effect until a deal with Iran is negotiated.

Health Secretary Robert F. Kennedy Jr. testifies for the second day before the House Education and Workforce Committee about the department’s priorities for fiscal year 2027.

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