Iran and Oman are finalizing a deal to jointly manage the Strait of Hormuz, but Tehran says the agreement will ban U.S. and Israeli ships from the critical waterway, a move the Trump administration swiftly rejected.

Watch List

• Oil Price Surge: WTI crude jumped 3.6% to $77.93 per barrel on fears of restricted transit through the strait, which handles a fifth of global oil supply.
• Treasury Yield Climb: The 2-year yield hit 4.243%, the **10-year...