Alex Ossola

And we should note that Fox and Wall Street Journal parent News Corp share common ownership.

In other media news, when the Justice Department closed its investigation of Paramount's bid for Warner Brothers Discovery last week, it did so before career staffers who were concerned about the acquisition had an opportunity to object.

The Journal is exclusively reporting that a team of lawyers was leaning toward recommending an antitrust lawsuit against the deal.

They hadn't yet made their final recommendation, a typical step in the deal review process, before they were told Friday that the department would close the investigation.

That effectively cleared the deal at the federal level.

A Justice Department spokeswoman said that the antitrust division's investigatory record indicated that the transaction would increase media competition.

Paramount said it's making progress in getting the regulatory approvals it needs for the merger.

As we mentioned on this morning's show, the U.S.

and Iran say they have reached a preliminary agreement to end the war.

Exactly what the two countries agreed to is still a bit unclear.

The text of the deal hasn't been made public, though officials say that'll be released in the coming days.

And there are signs that gaps still exist, as both the U.S.

and Iran have framed it as a win.

President Trump spoke to reporters about the agreement today after arriving in France for the G7 summit.

European allies welcomed the agreement, but one question hanging over the G7 meeting is whether they will agree to help reopen the Strait of Hormuz by clearing mines and escorting ships.

For many around the world, that's the crucial question.

When will the Strait of Hormuz reopen and get oil flowing again?

President Trump said it would be quick, but it might not be that easy.

WSJ Energy Markets reporter Rebecca Fang is here to walk us through what's next.

Okay, Rebecca, what is going on in the Strait today?