Today: Iran closes Hormuz over ceasefire disagreements, putting more pressure on gas prices

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Iran’s state-run Fars News Agency reported Wednesday that the country is closing the Strait of Hormuz, less than a day after President Donald Trump announced a ceasefire agreement with Iran. Fars said tanker traffic would come to a “complete stop,” citing what it described as Israeli violations of the ceasefire, including attacks in Lebanon. Israel has said it will continue operations in Lebanon, arguing it was not part of the agreement, a claim disputed by Iran. The report said two ships were allowed to pass through the strait before Iran reversed course. In response to the report, White House press secretary Karoline Leavitt said, "The immediate reopening of the strait without any limitations, whether it is in the form of or otherwise." President Trump’s Tuesday night announcement of a two-week ceasefire was contingent upon Iran agreeing to open the Strait of Hormuz. The news drove the price of oil down more than 15% Wednesday morning. That could mean cheaper gas soon. "In theory, oil prices plummeting today will affect prices later tonight and tomorrow," said GasBuddy's Patrick De Haan. "I would expect the national average could start declining at a pace of five to 10 cents a gallon in the next week. Beyond that, the second weeks could see a decline of seven to 15 cents a gallon." And federal prosecutors have indicted two men accused of planning an ISIS-inspired attack last month during a counter-protest outside the home of New York City Mayor Zohran Mamdani. According to a newly released indictment, authorities claim Emir Balat, 18, and Ibrahim Kayumi, 19, tried to detonate two improvised explosive devices and were hoping to kill up to 60 people. But the improvised devices did not detonate and both men were quickly detained. ------------------------------------- Join our newsletter at https://bit.ly/2q1tepr Follow us on Facebook: https://www.facebook.com/scrippsnews/ Follow us on Twitter: https://www.twitter.com/scrippsnews Follow us on Instagram: https://www.instagram.com/scrippsnews/ Follow us on TikTok: https://www.tiktok.com/@scrippsnews