Oil prices rise after Trump insists the Iran war is going to plan
One market analyst says Trump warning the Iran war will take 2-3 more weeks, without a plan to reopen the Strait of Hormuz, "was far less than" investors had hoped for.
Updated on: April 2, 2026 / 1:22 PM EDT / CBS News
U.K.-led talks demand "immediate" reopening of Strait of Hormuz
British foreign minister Yvette Cooper said on Thursday that some 40 countries who joined a virtual meeting on the Strait of Hormuz crisis had demanded "the immediate and unconditional reopening" of the vital shipping route.
"Iran is trying to hold the global economy hostage in the Strait of Hormuz," Cooper said in a statement after the talks. "They must not prevail. To that effect, partners today called for the immediate and unconditional reopening of the Strait and respect for the fundamental principles of freedom of navigation and the law of the sea."
Stocks recover most of their losses but remain in negative territory
After a sharp selloff on Thursday morning, stocks recovered most of their losses by midday, although they remained in negative territory.