Oil prices fell sharply and global stocks surged Monday after President Donald Trump announced that the United States and Iran have reached an agreement to reopen the Strait of Hormuz, the strategic passageway that serves as the primary artery for oil and natural gas from the Middle East. Trump posted on social media that he is "fully" authorizing the toll-free opening of the Strait and the immediate removal of the U.S. Naval blockade that had been put in place to halt the flow of Iranian oil. Pakistan's prime minister, who helped mediate the talks, said the agreement also covers Lebanon, with a signing ceremony scheduled for Friday in Switzerland. Iran's deputy foreign minister confirmed the deal and said Iran's commitments would begin Friday. Brent crude, the global benchmark, fell nearly 5% to around $83 per barrel — still above the roughly $73 level seen before the first U.S.-Israeli strikes on Iran on February 28. West Texas Intermediate fell to around $81, compared with about $67...